Sapient Capital LLC Purchases Shares of 2,079,992 Horizon Bancorp, Inc. (NASDAQ:HBNC)

Sapient Capital LLC bought a new stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,079,992 shares of the financial services provider's stock, valued at approximately $29,765,000. Sapient Capital LLC owned about 4.72% of Horizon Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Horizon Bancorp by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider's stock valued at $23,325,000 after acquiring an additional 34,861 shares during the period. PL Capital Advisors LLC grew its stake in shares of Horizon Bancorp by 4.3% during the third quarter. PL Capital Advisors LLC now owns 1,620,090 shares of the financial services provider's stock valued at $17,303,000 after buying an additional 67,000 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Horizon Bancorp by 7.6% in the third quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider's stock worth $6,780,000 after buying an additional 44,810 shares during the period. Harbour Trust & Investment Management Co bought a new stake in shares of Horizon Bancorp during the 4th quarter worth approximately $6,167,000. Finally, Pacific Ridge Capital Partners LLC boosted its holdings in Horizon Bancorp by 31.5% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 394,602 shares of the financial services provider's stock valued at $4,214,000 after acquiring an additional 94,581 shares during the period. Hedge funds and other institutional investors own 64.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HBNC. Piper Sandler decreased their target price on Horizon Bancorp from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, April 29th. StockNews.com raised shares of Horizon Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, April 29th.

Horizon Bancorp Stock Up 0.5 %

Shares of Horizon Bancorp stock traded up $0.06 during trading on Friday, hitting $12.47. 109,544 shares of the stock traded hands, compared to its average volume of 158,715. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $12.04 and its 200 day simple moving average is $12.17. The firm has a market cap of $550.05 million, a P/E ratio of 23.09 and a beta of 1.04. Horizon Bancorp, Inc. has a 52-week low of $7.69 and a 52-week high of $14.71.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.13%. Horizon Bancorp's dividend payout ratio is presently 118.52%.

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.