Prudential Financial Inc. Lowers Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Prudential Financial Inc. lessened its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,069 shares of the financial services provider's stock after selling 19,900 shares during the period. Prudential Financial Inc. owned approximately 0.08% of Horizon Bancorp worth $565,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Horizon Bancorp by 362.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider's stock worth $25,000 after purchasing an additional 1,233 shares during the period. Quarry LP raised its stake in Horizon Bancorp by 508.1% in the third quarter. Quarry LP now owns 2,098 shares of the financial services provider's stock worth $33,000 after buying an additional 1,753 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Horizon Bancorp during the 4th quarter worth $39,000. POM Investment Strategies LLC purchased a new position in Horizon Bancorp in the fourth quarter valued at about $92,000. Finally, Quantbot Technologies LP raised its holdings in Horizon Bancorp by 4,298.5% in the fourth quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider's stock worth $141,000 after purchasing an additional 8,554 shares in the last quarter. 64.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler reduced 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 Stock Down 0.7 %

NASDAQ HBNC traded down $0.09 during trading on Friday, hitting $12.92. The company's stock had a trading volume of 205,887 shares, compared to its average volume of 166,139. 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, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The company has a market cap of $568.67 million, a PE ratio of 16.15 and a beta of 0.87. The business's 50 day simple moving average is $15.75 and its 200-day simple moving average is $16.28.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued 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%. On average, equities analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 annualized dividend and a yield of 4.95%. Horizon Bancorp's dividend payout ratio is presently 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.