Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 69.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,593 shares of the financial services provider's stock after selling 42,944 shares during the period. ExodusPoint Capital Management LP's holdings in Horizon Bancorp were worth $300,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. AMI Investment Management Inc. grew its position in Horizon Bancorp by 10.2% in 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 during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of 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 acquiring an additional 1,233 shares during the period. Franklin Resources Inc. lifted its stake in shares of Horizon Bancorp by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider's stock worth $399,000 after acquiring an additional 1,703 shares during the period. R Squared Ltd purchased a new stake in shares of Horizon Bancorp in the fourth quarter valued at about $39,000. Finally, Meritage Portfolio Management increased its stake in shares of 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 period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Monday, January 27th.

Horizon Bancorp Price Performance

Shares of NASDAQ HBNC traded up $0.19 during trading on Friday, hitting $13.55. 185,992 shares of the company were exchanged, compared to its average volume of 166,592. 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 1 year low of $11.36 and a 1 year high of $19.18. The company has a market cap of $596.40 million, a price-to-earnings ratio of 16.94 and a beta of 0.87. The firm's fifty day moving average price is $15.34 and its 200 day moving average price is $16.20.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share 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. Investors of record on Friday, April 4th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, April 4th. Horizon Bancorp's dividend payout ratio is currently 80.00%.

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.