Boston Partners Cuts Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Boston Partners lowered its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 44.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 36,524 shares of the financial services provider's stock after selling 29,388 shares during the quarter. Boston Partners owned approximately 0.08% of Horizon Bancorp worth $588,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Horizon Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider's stock worth $16,387,000 after acquiring an additional 52,423 shares during the period. Barclays PLC lifted its position in shares of 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 during the period. JPMorgan Chase & Co. boosted its stake in shares of Horizon Bancorp by 37.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider's stock valued at $1,658,000 after purchasing an additional 28,999 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Horizon Bancorp by 7.0% during the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider's stock valued at $399,000 after buying an additional 1,703 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Horizon Bancorp in the fourth quarter worth about $602,000. 64.51% of the stock is currently owned by institutional investors.

Remove Ads

Horizon Bancorp Stock Up 0.7 %

HBNC traded up $0.11 during midday trading on Wednesday, reaching $15.52. The company's stock had a trading volume of 109,624 shares, compared to its average volume of 158,000. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year high of $19.18. The stock's 50-day moving average is $16.42 and its 200-day moving average is $16.45. The firm has a market capitalization of $683.11 million, a price-to-earnings ratio of 19.40 and a beta of 1.05. 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 (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, research analysts expect that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. Horizon Bancorp's payout ratio is presently 80.00%.

Analyst Ratings Changes

HBNC has been the topic of several research reports. Piper Sandler cut their price objective on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

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.