First Quadrant L P CA bought a new position in Horizon Bancorp Inc (NASDAQ:HBNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,504 shares of the financial services provider’s stock, valued at approximately $208,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Horizon Bancorp in the first quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Horizon Bancorp by 82.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,722 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,684 shares during the period. Woodley Farra Manion Portfolio Management Inc. boosted its position in shares of Horizon Bancorp by 334.7% in the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,455 shares of the financial services provider’s stock worth $54,000 after buying an additional 4,200 shares during the period. Hancock Whitney Corp acquired a new stake in shares of Horizon Bancorp in the first quarter worth $106,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Horizon Bancorp by 26.5% in the first quarter. BNP Paribas Arbitrage SA now owns 11,517 shares of the financial services provider’s stock worth $114,000 after buying an additional 2,412 shares during the period. Institutional investors and hedge funds own 49.84% of the company’s stock.
A number of research firms recently issued reports on HBNC. Piper Sandler lifted their price objective on Horizon Bancorp from $14.00 to $14.50 and gave the company an “overweight” rating in a research report on Monday, May 4th. Zacks Investment Research raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. ValuEngine raised Horizon Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, BidaskClub raised Horizon Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.50.
Shares of NASDAQ:HBNC opened at $10.11 on Friday. Horizon Bancorp Inc has a fifty-two week low of $7.42 and a fifty-two week high of $19.48. The business has a 50-day moving average of $9.98 and a two-hundred day moving average of $12.11. The stock has a market capitalization of $442.53 million, a P/E ratio of 6.92 and a beta of 1.31. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.97 and a quick ratio of 0.97.
Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Horizon Bancorp had a return on equity of 10.15% and a net margin of 25.36%. The company had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $52.50 million. As a group, research analysts expect that Horizon Bancorp Inc will post 1.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.75%. Horizon Bancorp’s dividend payout ratio is currently 29.27%.
Horizon Bancorp Company Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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