Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Bought by LSV Asset Management

LSV Asset Management boosted its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,055 shares of the financial services provider's stock after acquiring an additional 64,532 shares during the period. LSV Asset Management owned about 1.40% of Horizon Bancorp worth $9,892,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. PL Capital Advisors LLC increased its holdings in Horizon Bancorp by 1,521.9% in the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider's stock valued at $384,931,000 after buying an additional 22,420,759 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Horizon Bancorp during the fourth quarter worth approximately $3,783,000. Segall Bryant & Hamill LLC acquired a new position in Horizon Bancorp in the fourth quarter valued at approximately $1,826,000. JPMorgan Chase & Co. raised its holdings in Horizon Bancorp by 99.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider's stock worth $3,424,000 after purchasing an additional 105,959 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position 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 buying an additional 91,476 shares during the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Performance

Shares of Horizon Bancorp stock traded up $0.19 on Friday, reaching $13.55. 185,992 shares of the stock were exchanged, compared to its average volume of 166,511. 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 firm has a market capitalization of $596.40 million, a PE ratio of 16.94 and a beta of 0.87. Horizon Bancorp, Inc. has a 1-year low of $11.30 and a 1-year high of $19.18. The business has a fifty day moving average price of $15.42 and a two-hundred day moving average price of $16.21.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted its quarterly 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 9.86% and a return on equity of 8.48%. As a group, research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.72%. The ex-dividend date is Friday, April 4th. Horizon Bancorp's payout ratio is currently 80.00%.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Monday, January 27th.

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.