Renaissance Technologies LLC increased its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 58.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,716 shares of the financial services provider's stock after acquiring an additional 33,000 shares during the period. Renaissance Technologies LLC owned about 0.21% of Horizon Bancorp worth $1,445,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the stock. PL Capital Advisors LLC grew its stake in shares of Horizon Bancorp by 1,521.9% in the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider's stock worth $384,931,000 after purchasing an additional 22,420,759 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Horizon Bancorp in the 4th quarter worth approximately $3,783,000. Segall Bryant & Hamill LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at approximately $1,826,000. JPMorgan Chase & Co. raised its holdings in shares of Horizon Bancorp by 99.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider's stock valued at $3,424,000 after acquiring an additional 105,959 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Horizon Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider's stock worth $39,506,000 after acquiring an additional 91,476 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th.
Check Out Our Latest Research Report on HBNC
Horizon Bancorp Stock Performance
Shares of NASDAQ HBNC traded up $0.36 during midday trading on Friday, hitting $15.10. 128,717 shares of the stock traded hands, compared to its average volume of 166,289. The firm has a market capitalization of $664.63 million, a P/E ratio of 18.88 and a beta of 0.87. Horizon Bancorp, Inc. has a one year low of $11.46 and a one year high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day moving average of $14.83 and a two-hundred day moving average of $16.18.
Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The business had revenue of $69.17 million for the quarter, compared to analysts' expectations of $64.52 million. On average, equities analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.
Horizon Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.24%. Horizon Bancorp's dividend payout ratio is currently 62.75%.
Horizon Bancorp Company Profile
(
Free Report)
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.
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