41,522 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 41,522 shares of the financial services provider's stock, valued at approximately $669,000. Teacher Retirement System of Texas owned approximately 0.09% of Horizon Bancorp at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AMI Investment Management Inc. raised its position in shares of Horizon Bancorp by 10.2% during the 4th quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider's stock valued at $192,000 after buying an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp increased its stake in 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 acquiring an additional 1,233 shares during the last quarter. Franklin Resources Inc. raised 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 valued at $399,000 after purchasing an additional 1,703 shares in the last quarter. Quarry LP lifted 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 worth $33,000 after purchasing an additional 1,753 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Horizon Bancorp during the fourth quarter worth about $39,000. 64.51% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HBNC shares. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler reduced their price target 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 Trading Down 9.2 %

Shares of NASDAQ:HBNC traded down $1.40 on Thursday, reaching $13.86. 292,888 shares of the company traded hands, compared to its average volume of 163,929. The stock has a market capitalization of $610.05 million, a P/E ratio of 17.33 and a beta of 1.05. The business's 50-day simple moving average is $16.31 and its 200 day simple moving average is $16.41. 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, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, equities analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 annualized dividend and a yield of 4.62%. Horizon Bancorp's payout ratio is currently 80.00%.

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.