State of Tennessee Department of Treasury Acquires New Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

State of Tennessee Department of Treasury bought a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 24,760 shares of the financial services provider's stock, valued at approximately $399,000. State of Tennessee Department of Treasury owned 0.06% of Horizon Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HBNC. Jones Financial Companies Lllp lifted its position in shares of 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 acquiring an additional 1,233 shares during the period. R Squared Ltd bought a new position in shares of Horizon Bancorp during the fourth quarter valued at $39,000. POM Investment Strategies LLC acquired a new stake in shares of Horizon Bancorp during the 4th quarter worth about $92,000. Quantbot Technologies LP grew its stake in Horizon Bancorp by 4,298.5% during the fourth quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider's stock worth $141,000 after buying an additional 8,554 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Horizon Bancorp in the 4th quarter worth approximately $143,000. Institutional investors and hedge funds own 64.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of 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 dropped their target price on shares of Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, April 28th.

Horizon Bancorp Stock Down 1.2 %

Shares of NASDAQ HBNC traded down $0.18 during trading hours on Friday, hitting $15.14. The company had a trading volume of 64,899 shares, compared to its average volume of 168,931. The stock has a market capitalization of $666.39 million, a P/E ratio of 18.93 and a beta of 0.82. Horizon Bancorp, Inc. has a 1-year low of $11.46 and a 1-year high of $19.18. The firm's 50 day moving average is $14.69 and its 200-day moving average is $16.16. 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 issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. The business had revenue of $69.17 million during the quarter, compared to the consensus estimate of $64.52 million. On average, analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 annualized dividend and a yield of 4.23%. 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.