Sapient Capital LLC Acquires Shares of 1,852,871 Horizon Bancorp, Inc. (NASDAQ:HBNC)

Sapient Capital LLC bought a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,852,871 shares of the financial services provider's stock, valued at approximately $26,515,000. Horizon Bancorp makes up approximately 0.8% of Sapient Capital LLC's holdings, making the stock its 24th largest holding. Sapient Capital LLC owned approximately 4.20% of Horizon Bancorp at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BlackRock Inc. boosted its position in Horizon Bancorp by 24.5% during the second quarter. BlackRock Inc. now owns 5,983,404 shares of the financial services provider's stock worth $62,287,000 after acquiring an additional 1,177,772 shares during the last quarter. Harbour Trust & Investment Management Co acquired a new stake in Horizon Bancorp during the fourth quarter worth approximately $6,167,000. AQR Capital Management LLC boosted its position in Horizon Bancorp by 143.2% during the fourth quarter. AQR Capital Management LLC now owns 561,832 shares of the financial services provider's stock worth $8,472,000 after acquiring an additional 330,825 shares during the last quarter. State Street Corp boosted its position in Horizon Bancorp by 20.4% during the second quarter. State Street Corp now owns 1,374,002 shares of the financial services provider's stock worth $14,303,000 after acquiring an additional 232,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Horizon Bancorp by 70.4% during the second quarter. Goldman Sachs Group Inc. now owns 452,891 shares of the financial services provider's stock worth $4,715,000 after acquiring an additional 187,045 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Horizon Bancorp from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 13th. StockNews.com lowered shares of Horizon Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, Stephens reiterated an "overweight" rating and issued a $12.00 price target on shares of Horizon Bancorp in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.00.

Horizon Bancorp Trading Up 0.9 %

Shares of HBNC traded up $0.10 during mid-day trading on Thursday, reaching $11.47. The company had a trading volume of 141,552 shares, compared to its average volume of 161,519. The stock has a market cap of $505.94 million, a price-to-earnings ratio of 17.98 and a beta of 1.02. The firm has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $12.00. Horizon Bancorp, Inc. has a fifty-two week low of $7.69 and a fifty-two week high of $14.71. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. Horizon Bancorp had a net margin of 8.63% and a return on equity of 9.42%. The business had revenue of $21.81 million for the quarter, compared to the consensus estimate of $51.50 million. On average, sell-side analysts anticipate that Horizon Bancorp, Inc. will post 1.33 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Thursday, April 4th. Horizon Bancorp's dividend payout ratio (DPR) is 100.00%.

Horizon Bancorp Company 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.