24,760 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury purchased a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,760 shares of the financial services provider's stock, valued at approximately $399,000. State of Tennessee Department of Treasury owned approximately 0.06% of Horizon Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HBNC. PL Capital Advisors LLC raised its position in shares of Horizon Bancorp by 1,521.9% during 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 acquiring an additional 22,420,759 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Horizon Bancorp during the 4th quarter valued at about $3,783,000. Segall Bryant & Hamill LLC bought a new position in shares of Horizon Bancorp in the 4th quarter valued at about $1,826,000. JPMorgan Chase & Co. grew its position in shares of Horizon Bancorp by 99.4% during the 4th quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider's stock worth $3,424,000 after buying an additional 105,959 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Horizon Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider's stock worth $39,506,000 after buying an additional 91,476 shares during the last quarter. Institutional investors own 64.51% of the company's stock.

Horizon Bancorp Trading Down 1.2 %

Horizon Bancorp stock traded down $0.18 during midday trading on Friday, hitting $15.14. 107,609 shares of the stock were exchanged, compared to its average volume of 166,820. The stock has a market capitalization of $666.39 million, a PE ratio of 18.93 and a beta of 0.82. The company has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $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, Inc. has a 52 week low of $11.46 and a 52 week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.14. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. The company had revenue of $69.17 million for the quarter, compared to analysts' expectations of $64.52 million. Equities research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.23%. Horizon Bancorp's dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HBNC shares. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Piper Sandler decreased their price objective on Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, April 28th.

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.