Quarry LP Boosts Stock Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Quarry LP increased its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 64.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,450 shares of the financial services provider’s stock after acquiring an additional 1,352 shares during the period. Quarry LP’s holdings in Horizon Bancorp were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of Horizon Bancorp by 362.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,233 shares in the last quarter. R Squared Ltd bought a new position in Horizon Bancorp during the 4th quarter valued at about $39,000. Aquatic Capital Management LLC purchased a new stake in shares of Horizon Bancorp during the 4th quarter valued at about $51,000. POM Investment Strategies LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at approximately $92,000. Finally, Quantbot Technologies LP lifted its position in Horizon Bancorp by 4,298.5% during the fourth quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 8,554 shares during the period. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp Stock Up 0.4 %

HBNC opened at $14.74 on Friday. The firm’s 50 day simple moving average is $14.86 and its two-hundred day simple moving average is $16.18. The company has a market capitalization of $648.78 million, a PE ratio of 18.43 and a beta of 0.87. Horizon Bancorp, Inc. has a 1-year low of $11.46 and a 1-year high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The company had revenue of $69.17 million for the quarter, compared to analysts’ expectations of $64.52 million. As a group, equities analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.34%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HBNC shares. Keefe, Bruyette & Woods dropped their price target on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. Piper Sandler dropped their target price on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday.

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.