Pacific Ridge Capital Partners LLC Sells 3,612 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Pacific Ridge Capital Partners LLC lessened its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 419,059 shares of the financial services provider’s stock after selling 3,612 shares during the period. Horizon Bancorp makes up about 1.5% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 21st largest position. Pacific Ridge Capital Partners LLC owned about 0.96% of Horizon Bancorp worth $6,751,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Horizon Bancorp by 99.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider’s stock worth $3,424,000 after buying an additional 105,959 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Horizon Bancorp during the fourth quarter worth approximately $1,826,000. Vanguard Group Inc. raised its position in Horizon Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock valued at $39,506,000 after purchasing an additional 91,476 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Horizon Bancorp in the 4th quarter valued at approximately $143,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Horizon Bancorp in the 4th quarter worth approximately $3,783,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Up 0.7 %

Shares of NASDAQ HBNC opened at $15.52 on Thursday. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $683.11 million, a price-to-earnings ratio of 19.40 and a beta of 1.05. The business’s 50 day moving average price is $16.42 and its 200-day moving average price is $16.44.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, sell-side analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.12%. Horizon Bancorp’s payout ratio is 80.00%.

Analyst Ratings Changes

Several analysts recently weighed in on HBNC shares. Keefe, Bruyette & Woods increased their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler reduced their target price on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th.

About Horizon Bancorp

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.