Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its position in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of Horizon Bancorp by 362.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 1,233 shares in the last quarter. R Squared Ltd bought a new position in Horizon Bancorp in the fourth quarter worth $39,000. Aquatic Capital Management LLC purchased a new stake in shares of Horizon Bancorp in the fourth quarter worth $51,000. Quarry LP grew its stake in shares of Horizon Bancorp by 64.4% in the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock worth $56,000 after acquiring an additional 1,352 shares during the last quarter. Finally, POM Investment Strategies LLC purchased a new stake in shares of Horizon Bancorp in the fourth quarter worth $92,000. Hedge funds and other institutional investors own 64.51% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on HBNC. Piper Sandler cut their target price on Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on 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.

Horizon Bancorp Stock Down 0.5%

Shares of HBNC traded down $0.08 during trading hours on Wednesday, hitting $15.73. The company had a trading volume of 16,729 shares, compared to its average volume of 167,027. Horizon Bancorp, Inc. has a one year low of $11.46 and a one year high of $19.18. 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 capitalization of $692.14 million, a PE ratio of 19.66 and a beta of 0.82. The company's fifty day moving average price is $14.65 and its two-hundred day moving average price is $16.16.

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

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.07%. Horizon Bancorp's payout ratio is currently 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.