Quadrant Capital Group LLC Lowers Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Quadrant Capital Group LLC trimmed its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 40.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,275 shares of the financial services provider’s stock after selling 4,296 shares during the period. Quadrant Capital Group LLC’s holdings in Horizon Bancorp were worth $90,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sapient Capital LLC purchased a new stake in shares of Horizon Bancorp during the fourth quarter valued at about $29,765,000. Harbour Trust & Investment Management Co purchased a new stake in Horizon Bancorp during the fourth quarter valued at approximately $6,167,000. Pacific Ridge Capital Partners LLC boosted its stake in Horizon Bancorp by 31.5% in the third quarter. Pacific Ridge Capital Partners LLC now owns 394,602 shares of the financial services provider’s stock valued at $4,214,000 after acquiring an additional 94,581 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Horizon Bancorp by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,955,694 shares of the financial services provider’s stock worth $27,987,000 after purchasing an additional 94,332 shares in the last quarter. Finally, PL Capital Advisors LLC lifted its holdings in shares of Horizon Bancorp by 4.3% during the 3rd quarter. PL Capital Advisors LLC now owns 1,620,090 shares of the financial services provider’s stock valued at $17,303,000 after purchasing an additional 67,000 shares during the last quarter. Institutional investors own 64.51% of the company’s stock.

Analyst Ratings Changes

HBNC has been the topic of several recent analyst reports. Piper Sandler reduced their target price on Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. StockNews.com downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th.

Horizon Bancorp Price Performance

NASDAQ HBNC opened at $12.24 on Friday. The company has a market cap of $540.03 million, a price-to-earnings ratio of 22.67 and a beta of 1.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s fifty day moving average price is $12.17 and its 200 day moving average price is $12.42. Horizon Bancorp, Inc. has a 1 year low of $8.79 and a 1 year high of $14.71.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Horizon Bancorp had a return on equity of 8.71% and a net margin of 7.02%. The business had revenue of $53.22 million for the quarter, compared to analyst estimates of $53.90 million. As a group, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.31 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.23%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s payout ratio is 118.52%.

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.