Horizon Bancorp, Inc. (NASDAQ:HBNC) Position Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,464,189 shares of the financial services provider’s stock after buying an additional 81,943 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.64% of Horizon Bancorp worth $39,698,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HBNC. Jones Financial Companies Lllp lifted its holdings in Horizon Bancorp by 362.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,233 shares during the last quarter. R Squared Ltd bought a new stake in shares of Horizon Bancorp in the 4th quarter worth approximately $39,000. POM Investment Strategies LLC bought a new stake in shares of Horizon Bancorp in the 4th quarter worth approximately $92,000. Quantbot Technologies LP boosted its position in Horizon Bancorp by 4,298.5% during the 4th 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. Finally, KLP Kapitalforvaltning AS bought a new position in Horizon Bancorp during the 4th quarter worth $143,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Horizon Bancorp Price Performance

Shares of HBNC opened at $15.10 on Monday. The stock’s fifty day moving average is $14.83 and its 200-day moving average is $16.18. The firm has a market capitalization of $664.63 million, a price-to-earnings ratio of 18.88 and a beta of 0.87. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp, Inc. has a one year low of $11.46 and a one year high of $19.18.

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

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Friday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 62.75%.

Horizon Bancorp 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.