Cubist Systematic Strategies LLC Acquires New Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Cubist Systematic Strategies LLC purchased a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 46,091 shares of the financial services provider's stock, valued at approximately $743,000. Cubist Systematic Strategies LLC owned about 0.11% of Horizon Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Horizon Bancorp by 37.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider's stock worth $1,658,000 after acquiring an additional 28,999 shares during the period. AMI Investment Management Inc. raised its stake in Horizon Bancorp by 10.2% during the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider's stock worth $192,000 after purchasing an additional 1,109 shares during the period. SG Americas Securities LLC boosted its holdings in Horizon Bancorp by 25.5% in the fourth quarter. SG Americas Securities LLC now owns 27,055 shares of the financial services provider's stock valued at $436,000 after acquiring an additional 5,499 shares during the last quarter. R Squared Ltd purchased a new stake in Horizon Bancorp during the fourth quarter valued at about $39,000. Finally, Meritage Portfolio Management increased its stake in Horizon Bancorp by 12.4% during the fourth quarter. Meritage Portfolio Management now owns 22,260 shares of the financial services provider's stock worth $359,000 after acquiring an additional 2,464 shares during the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on shares of 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.

Horizon Bancorp Stock Up 0.3%

Shares of HBNC stock traded up $0.05 on Tuesday, hitting $15.74. The stock had a trading volume of 12,486 shares, compared to its average volume of 166,526. The stock's 50 day moving average is $14.68 and its 200-day moving average is $16.15. The firm has a market capitalization of $692.75 million, a price-to-earnings ratio of 19.61 and a beta of 0.82. Horizon Bancorp, Inc. has a 52-week low of $11.46 and a 52-week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) 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 analyst estimates of $64.52 million. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, research analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Friday, April 4th. Horizon Bancorp's dividend payout ratio is currently 62.75%.

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.