Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP trimmed its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 15.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 88,852 shares of the financial services provider’s stock after selling 16,363 shares during the quarter. Two Sigma Investments LP’s holdings in Horizon Bancorp were worth $1,431,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. PL Capital Advisors LLC increased its stake 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 purchasing an additional 22,420,759 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Horizon Bancorp by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,464,189 shares of the financial services provider’s stock valued at $39,698,000 after purchasing an additional 81,943 shares during the last quarter. Vanguard Group Inc. increased its stake in Horizon Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock valued at $39,506,000 after purchasing an additional 91,476 shares during the last quarter. LSV Asset Management increased its stake in Horizon Bancorp by 11.7% in the fourth quarter. LSV Asset Management now owns 614,055 shares of the financial services provider’s stock valued at $9,892,000 after purchasing an additional 64,532 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Horizon Bancorp by 0.9% in the fourth 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 during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Trading Up 1.3%

Shares of NASDAQ HBNC opened at $14.99 on Wednesday. The stock’s 50 day moving average price is $14.55 and its two-hundred day moving average price is $15.94. Horizon Bancorp, Inc. has a 52-week low of $11.46 and a 52-week high of $19.18. The stock has a market capitalization of $659.78 million, a P/E ratio of 18.74 and a beta of 0.82. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $69.17 million for the quarter, compared to analysts’ expectations of $64.52 million. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, April 4th. Horizon Bancorp’s dividend payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

HBNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their price target on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. Piper Sandler dropped their price target on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 28th.

About Horizon Bancorp

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.