ExodusPoint Capital Management LP Lowers Stock Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

ExodusPoint Capital Management LP decreased its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 69.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,593 shares of the financial services provider's stock after selling 42,944 shares during the quarter. ExodusPoint Capital Management LP's holdings in Horizon Bancorp were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Horizon Bancorp by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider's stock valued at $16,387,000 after acquiring an additional 52,423 shares during the period. Barclays PLC grew its holdings in Horizon Bancorp by 62.7% in the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider's stock valued at $1,704,000 after purchasing an additional 42,218 shares during the period. JPMorgan Chase & Co. grew its holdings in Horizon Bancorp by 37.4% in the third 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 during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Horizon Bancorp in the fourth quarter valued at approximately $602,000. Finally, Franklin Resources Inc. raised its stake in shares of Horizon Bancorp by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider's stock worth $399,000 after buying an additional 1,703 shares during the period. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price target on shares of Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th.

Horizon Bancorp Price Performance

HBNC stock traded up $0.19 during midday trading on Friday, reaching $13.55. The stock had a trading volume of 185,992 shares, compared to its average volume of 166,511. Horizon Bancorp, Inc. has a 52-week low of $11.30 and a 52-week high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The company's fifty day simple moving average is $15.42 and its 200 day simple moving average is $16.21. The company has a market cap of $596.40 million, a price-to-earnings ratio of 16.94 and a beta of 0.87.

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, sell-side analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

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 given a $0.16 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.72%. Horizon Bancorp's dividend payout ratio (DPR) is presently 80.00%.

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.