Intech Investment Management LLC Takes $286,000 Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Intech Investment Management LLC purchased a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,775 shares of the financial services provider's stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased 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 valued at $25,000 after purchasing an additional 1,233 shares during the period. Quarry LP grew its position in shares of Horizon Bancorp by 508.1% in the 3rd 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 last quarter. R Squared Ltd acquired a new stake in shares of Horizon Bancorp in the fourth quarter valued at about $39,000. POM Investment Strategies LLC bought a new position in shares of Horizon Bancorp during the fourth quarter worth about $92,000. Finally, AMG National Trust Bank acquired a new position in shares of Horizon Bancorp in the fourth quarter worth approximately $161,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Stock Down 2.3 %

NASDAQ:HBNC traded down $0.36 during trading hours on Friday, reaching $15.16. The company had a trading volume of 121,082 shares, compared to its average volume of 163,374. The business's 50-day simple moving average is $16.40 and its two-hundred day simple moving average is $16.45. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18. The firm has a market cap of $667.27 million, a price-to-earnings ratio of 18.95 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.

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

Horizon Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, April 4th. Horizon Bancorp's payout ratio is 80.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HBNC shares. Keefe, Bruyette & Woods upped their price objective on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler decreased their target price on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating for the company in a research note 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.