Foundry Partners LLC Has $3.78 Million Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Foundry Partners LLC increased its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 29.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 234,475 shares of the financial services provider's stock after buying an additional 52,875 shares during the period. Foundry Partners LLC owned 0.54% of Horizon Bancorp worth $3,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HBNC. AMI Investment Management Inc. boosted its position in shares of Horizon Bancorp by 10.2% in the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider's stock valued at $192,000 after acquiring an additional 1,109 shares during the period. Jones Financial Companies Lllp lifted its stake 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 valued at $25,000 after buying an additional 1,233 shares during the period. Franklin Resources Inc. grew its position in Horizon Bancorp by 7.0% during the third 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 in the last quarter. Quarry LP increased its stake in Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 1,753 shares during the period. Finally, R Squared Ltd acquired a new position in Horizon Bancorp in the 4th quarter valued at approximately $39,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price objective on shares of 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 Price Performance

Shares of HBNC traded down $0.91 during trading hours on Thursday, hitting $12.95. The stock had a trading volume of 53,556 shares, compared to its average volume of 165,543. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The stock has a market capitalization of $569.82 million, a price-to-earnings ratio of 16.18 and a beta of 0.87. The company's fifty day moving average is $15.90 and its two-hundred day moving average is $16.31. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings data 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%. On average, analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, April 4th. Horizon Bancorp's dividend payout ratio is currently 80.00%.

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.