Connor Clark & Lunn Investment Management Ltd. acquired a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 37,357 shares of the financial services provider's stock, valued at approximately $602,000. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Horizon Bancorp as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HBNC. AMG National Trust Bank purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at $161,000. Proficio Capital Partners LLC purchased a new position in Horizon Bancorp during the 4th quarter valued at about $234,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Horizon Bancorp by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 359,247 shares of the financial services provider's stock valued at $5,787,000 after purchasing an additional 8,266 shares during the period. Jones Financial Companies Lllp lifted its position in shares of 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 purchasing an additional 1,233 shares in the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in shares of Horizon Bancorp by 0.7% during the fourth quarter. PL Capital Advisors LLC now owns 1,483,174 shares of the financial services provider's stock worth $23,894,000 after purchasing an additional 10,000 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price 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 reduced their price objective on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Monday, January 27th.
Read Our Latest Analysis on Horizon Bancorp
Horizon Bancorp Stock Up 0.7 %
HBNC stock traded up $0.11 during trading hours on Wednesday, hitting $15.52. The company's stock had a trading volume of 109,624 shares, compared to its average volume of 158,000. The stock has a 50 day moving average price of $16.42 and a two-hundred day moving average price of $16.45. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18. The company has a market capitalization of $683.11 million, a PE ratio of 19.40 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 quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, equities research analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.
Horizon Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.16 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.64 annualized dividend and a yield of 4.12%. Horizon Bancorp's dividend payout ratio (DPR) is currently 80.00%.
Horizon Bancorp Company Profile
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Free Report)
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.
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