Foundry Partners LLC lessened its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC – Free Report) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 74,553 shares of the financial services provider’s stock after selling 1,335 shares during the quarter. Foundry Partners LLC’s holdings in Horizon Bancorp were worth $1,067,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Sapient Capital LLC acquired a new position in Horizon Bancorp in the fourth quarter valued at $26,515,000. Harbour Trust & Investment Management Co acquired a new position in Horizon Bancorp in the fourth quarter valued at $6,167,000. Pacific Ridge Capital Partners LLC lifted its holdings in Horizon Bancorp by 31.5% in the third quarter. Pacific Ridge Capital Partners LLC now owns 394,602 shares of the financial services provider’s stock valued at $4,214,000 after buying an additional 94,581 shares during the period. PL Capital Advisors LLC lifted its holdings in Horizon Bancorp by 4.3% in the third quarter. PL Capital Advisors LLC now owns 1,620,090 shares of the financial services provider’s stock valued at $17,303,000 after buying an additional 67,000 shares during the period. Finally, Alps Advisors Inc. acquired a new position in Horizon Bancorp in the third quarter valued at $593,000. Institutional investors and hedge funds own 64.51% of the company’s stock.
Horizon Bancorp Price Performance
HBNC stock opened at $12.06 on Tuesday. The stock has a market capitalization of $531.97 million, a PE ratio of 18.84 and a beta of 1.02. The company’s 50-day moving average is $12.11 and its 200-day moving average is $12.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.70 and a quick ratio of 0.70. Horizon Bancorp, Inc. has a 1 year low of $7.69 and a 1 year high of $14.71.
Horizon Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 100.00%.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Horizon Bancorp currently has an average rating of “Hold” and a consensus target price of $13.00.
Check Out Our Latest Report on HBNC
Horizon Bancorp Company Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.
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