Millennium Management LLC Has $1.13 Million Stock Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Millennium Management LLC lifted its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 39.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,420 shares of the financial services provider's stock after purchasing an additional 19,828 shares during the period. Millennium Management LLC owned about 0.16% of Horizon Bancorp worth $1,134,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HBNC. Meritage Portfolio Management grew its stake in shares of Horizon Bancorp by 12.4% in the 4th quarter. Meritage Portfolio Management now owns 22,260 shares of the financial services provider's stock worth $359,000 after purchasing an additional 2,464 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Horizon Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 117,080 shares of the financial services provider's stock worth $1,886,000 after purchasing an additional 5,686 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Horizon Bancorp in the 4th quarter worth approximately $92,000. Rhumbline Advisers grew its stake 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 purchasing an additional 2,521 shares during the last quarter. Finally, PL Capital Advisors LLC grew its stake in shares of Horizon Bancorp by 1,521.9% in the 4th quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider's stock worth $384,931,000 after purchasing an additional 22,420,759 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company's stock.

Analyst Ratings Changes

HBNC has been the subject of several recent analyst reports. Wall Street Zen cut shares of Horizon Bancorp from a "buy" rating to a "hold" rating in a report on Friday. Keefe, Bruyette & Woods decreased their target price on shares of Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler decreased their target price on shares of Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, April 28th.

Horizon Bancorp Trading Up 2.3%

Shares of HBNC traded up $0.33 during midday trading on Friday, hitting $14.83. The stock had a trading volume of 165,512 shares, compared to its average volume of 169,196. Horizon Bancorp, Inc. has a fifty-two week low of $11.46 and a fifty-two week high of $19.18. The business has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $15.85. The firm has a market cap of $652.74 million, a P/E ratio of 18.54 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its 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 analysts' expectations of $64.52 million. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. As a group, equities analysts forecast 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 paid 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 4.32%. Horizon Bancorp's dividend payout ratio is presently 62.75%.

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.