Horizon Bancorp, Inc. (NASDAQ:HBNC) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 37.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 106,609 shares of the financial services provider's stock after buying an additional 28,999 shares during the period. JPMorgan Chase & Co. owned 0.24% of Horizon Bancorp worth $1,658,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Horizon Bancorp by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider's stock valued at $28,160,000 after acquiring an additional 135,217 shares during the last quarter. Sei Investments Co. grew its holdings in Horizon Bancorp by 12.3% in the second quarter. Sei Investments Co. now owns 28,486 shares of the financial services provider's stock valued at $352,000 after purchasing an additional 3,109 shares during the period. Bank of Montreal Can acquired a new position in Horizon Bancorp during the second quarter worth approximately $432,000. Squarepoint Ops LLC purchased a new position in Horizon Bancorp during the second quarter worth approximately $322,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Horizon Bancorp by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider's stock valued at $5,915,000 after purchasing an additional 50,666 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com raised Horizon Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Hovde Group initiated coverage on Horizon Bancorp in a report on Monday, September 30th. They issued an "outperform" rating and a $18.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.

Horizon Bancorp Stock Up 4.6 %

NASDAQ:HBNC traded up $0.73 during mid-day trading on Thursday, hitting $16.43. The company had a trading volume of 322,400 shares, compared to its average volume of 158,322. The business has a fifty day simple moving average of $16.94 and a 200-day simple moving average of $15.94. The firm has a market capitalization of $718.32 million, a price-to-earnings ratio of 34.96 and a beta of 1.08. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year 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.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. Equities analysts forecast that Horizon Bancorp, Inc. will post 1.36 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a $0.16 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 3.90%. Horizon Bancorp's dividend payout ratio (DPR) is presently 136.17%.

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.