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

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

A number of other institutional investors have also recently made changes to their positions in the company. Ethic Inc. purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at about $228,000. Deutsche Bank AG grew its position in shares of Horizon Bancorp by 46.8% during the fourth quarter. Deutsche Bank AG now owns 45,258 shares of the financial services provider's stock valued at $729,000 after purchasing an additional 14,428 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at about $162,000. Cubist Systematic Strategies LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at about $743,000. Finally, Bridgeway Capital Management LLC grew its position in shares of Horizon Bancorp by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 229,747 shares of the financial services provider's stock valued at $3,701,000 after purchasing an additional 5,686 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HBNC shares. Keefe, Bruyette & Woods cut their price objective on Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating for the company in a research report 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 report on Monday, April 28th.

Horizon Bancorp Trading Down 0.6%

HBNC traded down $0.09 on Friday, hitting $14.70. The company had a trading volume of 127,879 shares, compared to its average volume of 167,001. The company has a market cap of $647.02 million, a PE ratio of 18.38 and a beta of 0.82. Horizon Bancorp, Inc. has a 12-month low of $11.46 and a 12-month high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The business's fifty day simple moving average is $14.64 and its 200 day simple moving average is $16.12.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. The company had revenue of $69.17 million during 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%. Equities research analysts expect that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 annualized dividend and a yield of 4.35%. Horizon Bancorp's dividend payout ratio 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.