Sapient Capital LLC Takes $29.77 Million Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Sapient Capital LLC purchased a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,079,992 shares of the financial services provider’s stock, valued at approximately $29,765,000. Sapient Capital LLC owned approximately 4.72% of Horizon Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HBNC. EMC Capital Management grew its stake in shares of Horizon Bancorp by 15.0% in the 3rd quarter. EMC Capital Management now owns 9,709 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,267 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Horizon Bancorp by 75.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,680 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 5,009 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Horizon Bancorp by 13.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 12,500 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 1,500 shares in the last quarter. AMI Investment Management Inc. lifted its position in shares of Horizon Bancorp by 12.0% during the 3rd quarter. AMI Investment Management Inc. now owns 12,527 shares of the financial services provider’s stock worth $134,000 after buying an additional 1,341 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Horizon Bancorp by 21.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 15,056 shares of the financial services provider’s stock worth $161,000 after buying an additional 2,650 shares during the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HBNC. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Piper Sandler reduced their price objective on Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, April 29th.

Horizon Bancorp Price Performance

NASDAQ:HBNC traded up $0.06 during midday trading on Friday, hitting $12.47. The company had a trading volume of 109,544 shares, compared to its average volume of 158,715. The company has a market capitalization of $550.05 million, a PE ratio of 23.09 and a beta of 1.04. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16. Horizon Bancorp, Inc. has a 52-week low of $7.69 and a 52-week high of $14.71. The stock’s fifty day moving average price is $12.04 and its 200-day moving average price is $12.16.

Horizon Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a $0.16 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 5.13%. Horizon Bancorp’s payout ratio is 118.52%.

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.