Foundry Partners LLC Boosts Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Foundry Partners LLC lifted its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 29.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 234,475 shares of the financial services provider’s stock after purchasing an additional 52,875 shares during the quarter. Foundry Partners LLC owned 0.54% of Horizon Bancorp worth $3,777,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position 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 buying an additional 1,233 shares during the period. Quarry LP boosted its stake in Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,753 shares during the period. R Squared Ltd purchased a new position in Horizon Bancorp during the fourth quarter worth about $39,000. POM Investment Strategies LLC bought a new position in Horizon Bancorp in the 4th quarter worth about $92,000. Finally, Quantbot Technologies LP raised its holdings in shares of Horizon Bancorp by 4,298.5% in the 4th quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 8,554 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 4.1 %

Shares of HBNC stock opened at $13.29 on Friday. The business has a 50-day moving average price of $16.25 and a two-hundred day moving average price of $16.39. Horizon Bancorp, Inc. has a 12-month low of $11.18 and a 12-month high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm has a market cap of $584.96 million, a P/E ratio of 16.61 and a beta of 1.05.

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%. Equities analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently announced 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. This represents a $0.64 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Friday, April 4th. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, January 27th.

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.