50,188 Shares in Horizon Bancorp (IN) $HBNC Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,188 shares of the financial services provider’s stock, valued at approximately $851,000.

Several other large investors have also added to or reduced their stakes in HBNC. Wellington Management Group LLP acquired a new position in Horizon Bancorp (IN) during the third quarter worth $24,842,000. Alliancebernstein L.P. boosted its holdings in Horizon Bancorp (IN) by 1,202.2% during the third quarter. Alliancebernstein L.P. now owns 593,109 shares of the financial services provider’s stock worth $9,496,000 after purchasing an additional 547,561 shares during the last quarter. Jennison Associates LLC boosted its holdings in Horizon Bancorp (IN) by 69.6% during the fourth quarter. Jennison Associates LLC now owns 1,242,365 shares of the financial services provider’s stock worth $21,071,000 after purchasing an additional 509,775 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new position in Horizon Bancorp (IN) during the third quarter worth $6,004,000. Finally, JPMorgan Chase & Co. boosted its holdings in Horizon Bancorp (IN) by 452.9% during the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock worth $5,820,000 after purchasing an additional 297,799 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock opened at $18.34 on Friday. The stock has a market cap of $941.39 million, a P/E ratio of -5.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. The company has a fifty day moving average price of $17.33 and a two-hundred day moving average price of $17.27. Horizon Bancorp has a one year low of $14.34 and a one year high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. As a group, equities analysts predict that Horizon Bancorp will post 2.1 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.13%.

Analysts Set New Price Targets

A number of analysts have commented on HBNC shares. Stephens started coverage on shares of Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Horizon Bancorp (IN) currently has an average rating of “Hold” and a consensus target price of $20.67.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.