Bailard Inc. Makes New $348,000 Investment in Horizon Bancorp (IN) (NASDAQ:HBNC)

Bailard Inc. purchased a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 23,100 shares of the financial services provider's stock, valued at approximately $348,000. Bailard Inc. owned approximately 0.05% of Horizon Bancorp (IN) as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HBNC. Aquatic Capital Management LLC purchased a new position in shares of Horizon Bancorp (IN) during the 4th quarter worth approximately $51,000. Quarry LP boosted its position in shares of Horizon Bancorp (IN) by 64.4% during the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,352 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Horizon Bancorp (IN) in the fourth quarter worth $82,000. Quantbot Technologies LP raised its holdings in Horizon Bancorp (IN) by 4,298.5% in the fourth quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider's stock worth $141,000 after purchasing an additional 8,554 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Horizon Bancorp (IN) during the fourth quarter valued at $143,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HBNC shares. Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Bancorp (IN) from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler cut their price objective on shares of Horizon Bancorp (IN) from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, April 28th.

Horizon Bancorp (IN) Stock Down 3.0%

Horizon Bancorp (IN) stock traded down $0.48 during mid-day trading on Thursday, hitting $15.45. The company had a trading volume of 238,757 shares, compared to its average volume of 166,943. Horizon Bancorp has a 12 month low of $12.70 and a 12 month high of $19.18. The company has a market capitalization of $679.95 million, a PE ratio of 13.21 and a beta of 0.84. The stock's 50 day moving average price is $15.32 and its two-hundred day moving average price is $15.46. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.03. Horizon Bancorp (IN) had a return on equity of 10.30% and a net margin of 13.84%. The firm had revenue of $66.27 million during the quarter, compared to analyst estimates of $66.45 million. As a group, sell-side analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Thursday, July 3rd. Horizon Bancorp (IN)'s payout ratio is 62.75%.

About Horizon Bancorp (IN)

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.