Segall Bryant & Hamill LLC Increases Stock Position in Horizon Bancorp (IN) (NASDAQ:HBNC)

Segall Bryant & Hamill LLC raised its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 29.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,752 shares of the financial services provider's stock after acquiring an additional 33,379 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.33% of Horizon Bancorp (IN) worth $2,213,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in Horizon Bancorp (IN) by 58.2% during the 4th quarter. Renaissance Technologies LLC now owns 89,716 shares of the financial services provider's stock worth $1,445,000 after buying an additional 33,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Horizon Bancorp (IN) during the 4th quarter worth approximately $602,000. Millennium Management LLC lifted its holdings in Horizon Bancorp (IN) by 39.2% during the 4th quarter. Millennium Management LLC now owns 70,420 shares of the financial services provider's stock worth $1,134,000 after buying an additional 19,828 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Horizon Bancorp (IN) during the 4th quarter worth approximately $669,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Horizon Bancorp (IN) by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,723 shares of the financial services provider's stock worth $270,000 after buying an additional 2,638 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HBNC shares. Piper Sandler reduced 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. Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a report on Friday. Finally, Keefe, Bruyette & Woods cut their price target 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.

Horizon Bancorp (IN) Price Performance

HBNC stock traded up $0.04 during trading on Friday, reaching $15.92. 159,243 shares of the company were exchanged, compared to its average volume of 165,606. The company has a market cap of $700.72 million, a P/E ratio of 15.61 and a beta of 0.84. Horizon Bancorp has a 52-week low of $12.70 and a 52-week high of $19.18. The stock's 50 day moving average price is $15.32 and its 200 day moving average price is $15.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

Horizon Bancorp (IN) (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 company had revenue of $69.17 million during the quarter, compared to analysts' expectations of $64.52 million. Horizon Bancorp (IN) had a net margin of 12.27% and a return on equity of 9.56%. As a group, analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, July 3rd. Horizon Bancorp (IN)'s payout ratio is currently 62.75%.

Horizon Bancorp (IN) 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.