Horizon Bancorp (IN) $HBNC Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 26.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,424 shares of the financial services provider’s stock after purchasing an additional 32,524 shares during the quarter. Renaissance Technologies LLC owned 0.30% of Horizon Bancorp (IN) worth $2,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HBNC. EverSource Wealth Advisors LLC raised its holdings in shares of Horizon Bancorp (IN) by 65.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after buying an additional 4,024 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at about $124,000. Raymond James Financial Inc. bought a new stake in shares of Horizon Bancorp (IN) during the 2nd quarter valued at about $134,000. Finally, Quadrant Capital Group LLC acquired a new stake in Horizon Bancorp (IN) during the third quarter worth about $140,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

Horizon Bancorp (IN) stock opened at $20.42 on Monday. Horizon Bancorp has a 12-month low of $14.84 and a 12-month high of $21.04. 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 stock has a market capitalization of $1.05 billion, a PE ratio of -6.46 and a beta of 0.82. The firm has a 50 day simple moving average of $19.80 and a 200-day simple moving average of $18.30.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The firm had revenue of $75.50 million for the quarter, compared to the consensus estimate of $76.56 million. Horizon Bancorp (IN) had a positive return on equity of 13.52% and a negative net margin of 36.38%. As a group, equities research analysts expect that Horizon Bancorp will post 2.07 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Horizon Bancorp (IN)’s payout ratio is currently -20.25%.

Insider Buying and Selling at Horizon Bancorp (IN)

In other news, EVP Kathie A. Deruiter sold 8,000 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the sale, the executive vice president owned 50,346 shares in the company, valued at $1,016,485.74. This represents a 13.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Piper Sandler reiterated a “neutral” rating and set a $23.00 price target (up from $21.00) on shares of Horizon Bancorp (IN) in a research report on Friday, July 24th. Keefe, Bruyette & Woods raised their price target on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Stephens restated an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Finally, Wall Street Zen downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.33.

Horizon Bancorp (IN) Company Profile

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.