5,695 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Bought by POM Investment Strategies LLC

POM Investment Strategies LLC purchased a new stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,695 shares of the financial services provider’s stock, valued at approximately $92,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Horizon Bancorp by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after acquiring an additional 52,423 shares during the period. Barclays PLC lifted its holdings in Horizon Bancorp by 62.7% during the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock valued at $1,704,000 after purchasing an additional 42,218 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Horizon Bancorp by 37.4% in the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 28,999 shares during the period. Franklin Resources Inc. increased its stake in shares of Horizon Bancorp by 7.0% in the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 1,703 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Horizon Bancorp by 32.0% during the 3rd quarter. Jane Street Group LLC now owns 57,068 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 13,827 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Stock Performance

HBNC opened at $17.38 on Tuesday. 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 stock has a market capitalization of $759.85 million, a price-to-earnings ratio of 21.73 and a beta of 1.07. The company has a fifty day moving average of $16.61 and a 200 day moving average of $16.20. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. As a group, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HBNC shares. Keefe, Bruyette & Woods upped their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Piper Sandler cut their target price on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, January 27th.

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.