Cary Street Partners Financial LLC Takes Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Cary Street Partners Financial LLC bought a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) during the 4th quarter, HoldingsChannel reports. The firm bought 15,256 shares of the financial services provider’s stock, valued at approximately $246,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 42,218 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Horizon Bancorp by 37.4% during the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 28,999 shares during the period. AMI Investment Management Inc. grew its holdings in shares of Horizon Bancorp by 10.2% during the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,109 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Horizon Bancorp by 25.5% in the 4th quarter. SG Americas Securities LLC now owns 27,055 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 5,499 shares during the period. Finally, R Squared Ltd purchased a new position in Horizon Bancorp in the 4th quarter worth $39,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Trading Down 1.2 %

Shares of Horizon Bancorp stock opened at $15.14 on Friday. 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, Inc. has a twelve month low of $11.46 and a twelve month high of $19.18. The firm has a market capitalization of $666.39 million, a PE ratio of 18.93 and a beta of 0.82. The firm’s 50-day moving average price is $14.67 and its 200 day moving average price is $16.17.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $69.17 million during the quarter, compared to analyst estimates of $64.52 million. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. On average, sell-side analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, April 4th. Horizon Bancorp’s payout ratio is currently 62.75%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HBNC. Keefe, Bruyette & Woods reduced their price objective on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. Piper Sandler cut their price target on shares of Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, April 28th.

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.