Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 99.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 212,568 shares of the financial services provider's stock after purchasing an additional 105,959 shares during the quarter. JPMorgan Chase & Co. owned about 0.49% of Horizon Bancorp worth $3,424,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. PL Capital Advisors LLC grew its position in Horizon Bancorp by 1,521.9% during the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider's stock worth $384,931,000 after buying an additional 22,420,759 shares during the period. Vanguard Group Inc. boosted its stake in shares of Horizon Bancorp by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider's stock worth $39,506,000 after acquiring an additional 91,476 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Horizon Bancorp by 5.2% in the 3rd 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. American Century Companies Inc. increased its stake in Horizon Bancorp by 0.9% in the 4th quarter. American Century Companies Inc. now owns 568,469 shares of the financial services provider's stock valued at $9,158,000 after purchasing an additional 5,129 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 64.51% of the company's stock.

Horizon Bancorp Price Performance

HBNC stock traded down $0.27 on Friday, reaching $14.56. The company had a trading volume of 201,252 shares, compared to its average volume of 166,577. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The company's fifty day moving average is $15.03 and its 200 day moving average is $16.18. The company has a market cap of $640.86 million, a P/E ratio of 18.20 and a beta of 0.87. Horizon Bancorp, Inc. has a 1 year low of $11.40 and a 1 year high of $19.18.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. The business had revenue of $69.17 million for the quarter, compared to the consensus estimate of $64.52 million. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, research analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.40%. Horizon Bancorp's dividend payout ratio (DPR) is presently 62.75%.

Analysts Set New Price Targets

Several analysts have weighed in on HBNC shares. Keefe, Bruyette & Woods lowered their target price on Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Friday. Piper Sandler decreased their price objective on shares of Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th.

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.