Two Sigma Advisers LP Lowers Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Two Sigma Advisers LP cut its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 16.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,087 shares of the financial services provider's stock after selling 19,400 shares during the quarter. Two Sigma Advisers LP owned about 0.23% of Horizon Bancorp worth $1,629,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in shares of Horizon Bancorp by 58.2% in 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 during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Horizon Bancorp in the 4th quarter worth about $602,000. Teacher Retirement System of Texas purchased a new stake in shares of Horizon Bancorp in the 4th quarter worth about $669,000. Price T Rowe Associates Inc. MD grew its position in shares of Horizon Bancorp by 18.7% in 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 during the period. Finally, Rhumbline Advisers grew its position in shares of Horizon Bancorp by 3.7% in the 4th quarter. Rhumbline Advisers now owns 69,900 shares of the financial services provider's stock worth $1,126,000 after buying an additional 2,521 shares during the period. 64.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HBNC. Keefe, Bruyette & Woods cut their price objective on shares of Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Piper Sandler lowered their price objective on shares of Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th.

Horizon Bancorp Stock Up 1.3%

Shares of HBNC stock traded up $0.19 during mid-day trading on Tuesday, hitting $14.99. 157,027 shares of the stock traded hands, compared to its average volume of 168,574. Horizon Bancorp, Inc. has a 52-week low of $11.46 and a 52-week high of $19.18. 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 $659.78 million, a P/E ratio of 18.74 and a beta of 0.82. The stock's fifty day moving average is $14.55 and its two-hundred day moving average is $15.94.

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

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Friday, April 4th. Horizon Bancorp's dividend payout ratio is presently 62.75%.

Horizon Bancorp Company 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.