AQR Capital Management LLC Has $5.57 Million Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

AQR Capital Management LLC lessened its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 346,009 shares of the financial services provider's stock after selling 37,654 shares during the quarter. AQR Capital Management LLC owned approximately 0.79% of Horizon Bancorp worth $5,574,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL raised its holdings in shares of Horizon Bancorp by 32.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 130,945 shares of the financial services provider's stock worth $2,110,000 after buying an additional 31,796 shares during the period. Quarry LP grew its stake in Horizon Bancorp by 64.4% during the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock worth $56,000 after buying an additional 1,352 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Horizon Bancorp in the 4th quarter worth approximately $51,000. Price T Rowe Associates Inc. MD raised its stake in 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 acquiring an additional 2,638 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Horizon Bancorp during the fourth quarter worth about $399,000. 64.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HBNC. 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 research note on Friday, April 25th. Piper Sandler lowered their target price 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 Price Performance

Shares of NASDAQ:HBNC traded down $0.18 on Friday, hitting $15.14. The company had a trading volume of 107,609 shares, compared to its average volume of 166,820. Horizon Bancorp, Inc. has a 52-week low of $11.46 and a 52-week high of $19.18. The business has a 50 day moving average of $14.67 and a 200 day moving average of $16.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The company has a market cap of $666.39 million, a PE ratio of 18.93 and a beta of 0.82.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, beating 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 return on equity of 8.48% and a net margin of 9.86%. As a group, equities analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Friday, April 4th. Horizon Bancorp's payout ratio is 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.