Dimensional Fund Advisors LP Boosts Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Dimensional Fund Advisors LP grew its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,464,189 shares of the financial services provider's stock after acquiring an additional 81,943 shares during the quarter. Dimensional Fund Advisors LP owned about 5.64% of Horizon Bancorp worth $39,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in Horizon Bancorp by 362.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider's stock worth $25,000 after buying an additional 1,233 shares in the last quarter. R Squared Ltd bought a new stake in shares of Horizon Bancorp during the 4th quarter worth $39,000. POM Investment Strategies LLC purchased a new position in Horizon Bancorp in the fourth quarter worth $92,000. Quantbot Technologies LP increased its stake in Horizon Bancorp by 4,298.5% in the fourth quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider's stock valued at $141,000 after acquiring an additional 8,554 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Horizon Bancorp during the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 64.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HBNC. Keefe, Bruyette & Woods reduced 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. Piper Sandler decreased their price target 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 Trading Down 1.2 %

Shares of NASDAQ HBNC traded down $0.18 during midday trading on Friday, reaching $15.14. The company had a trading volume of 107,609 shares, compared to its average volume of 166,820. The stock has a market cap of $666.39 million, a PE ratio of 18.93 and a beta of 0.82. Horizon Bancorp, Inc. has a one year low of $11.46 and a one year high of $19.18. The firm's fifty day moving average price is $14.67 and its 200-day moving average price is $16.17. 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 released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The firm had revenue of $69.17 million during the quarter, compared to analyst estimates of $64.52 million. On average, equities research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Friday, April 4th. Horizon Bancorp's dividend payout ratio (DPR) is presently 62.75%.

Horizon Bancorp 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.