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

Two Sigma Advisers LP lessened its position in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 101,087 shares of the financial services provider's stock after selling 19,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.23% of Horizon Bancorp worth $1,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Rafferty Asset Management LLC raised its holdings in Horizon Bancorp by 14.2% in the fourth quarter. Rafferty Asset Management LLC now owns 31,297 shares of the financial services provider's stock worth $504,000 after purchasing an additional 3,881 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Horizon Bancorp in the 4th quarter worth about $82,000. ProShare Advisors LLC bought a new position in shares of Horizon Bancorp in the 4th quarter worth about $197,000. Occudo Quantitative Strategies LP increased its stake in shares of Horizon Bancorp by 9.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 20,525 shares of the financial services provider's stock worth $331,000 after acquiring an additional 1,759 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Horizon Bancorp by 39.2% during the 4th quarter. Millennium Management LLC now owns 70,420 shares of the financial services provider's stock valued at $1,134,000 after acquiring an additional 19,828 shares during the period. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp Stock Performance

Shares of HBNC remained flat at $14.88 during trading hours on Friday. The stock had a trading volume of 267,139 shares, compared to its average volume of 167,946. The stock has a market capitalization of $654.94 million, a PE ratio of 18.60 and a beta of 0.82. The company's 50-day moving average is $14.57 and its two-hundred day moving average is $16.01. 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.

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

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a $0.16 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.30%. Horizon Bancorp's payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in 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 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 on the stock in a research report on Monday, April 28th.

About Horizon Bancorp

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.