Graham Capital Management L.P. Makes New Investment in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Graham Capital Management L.P. bought a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,991 shares of the financial services provider's stock, valued at approximately $290,000.

Several other institutional investors also recently made changes to their positions in HBNC. AMI Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp grew its position in Horizon Bancorp by 362.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider's stock worth $25,000 after buying an additional 1,233 shares during the period. Quarry LP increased its holdings in Horizon Bancorp by 64.4% in the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,352 shares in the last quarter. Rhino Investment Partners Inc lifted its position in shares of Horizon Bancorp by 0.4% during the 4th quarter. Rhino Investment Partners Inc now owns 530,363 shares of the financial services provider's stock valued at $8,544,000 after acquiring an additional 2,104 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Horizon Bancorp during the 4th quarter worth approximately $39,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler lowered their price target on Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on shares of Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Friday, April 25th.

Horizon Bancorp Trading Down 3.8%

HBNC traded down $0.60 during trading on Wednesday, hitting $15.09. The company's stock had a trading volume of 143,823 shares, compared to its average volume of 166,923. The firm's 50 day moving average price is $14.69 and its 200-day moving average price is $16.15. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $664.19 million, a PE ratio of 18.86 and a beta of 0.82. Horizon Bancorp, Inc. has a twelve month low of $11.46 and a twelve month high of $19.18.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The business had revenue of $69.17 million during the quarter, compared to the consensus estimate of $64.52 million. On average, analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The company 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 dividend yield of 4.24%. The ex-dividend date was Friday, April 4th. Horizon Bancorp's dividend payout ratio (DPR) is currently 62.75%.

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.