Boston Partners Reduces Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Boston Partners reduced its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 44.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,524 shares of the financial services provider’s stock after selling 29,388 shares during the period. Boston Partners owned about 0.08% of Horizon Bancorp worth $588,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AMI Investment Management Inc. grew its holdings in Horizon Bancorp by 10.2% during the 4th quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,109 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,233 shares during the last quarter. Franklin Resources Inc. grew its holdings in Horizon Bancorp by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock valued at $399,000 after buying an additional 1,703 shares during the last quarter. Quarry LP grew its holdings in Horizon Bancorp by 508.1% during the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,753 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Horizon Bancorp during the 4th quarter valued at $39,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Price Performance

HBNC stock opened at $15.28 on Friday. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The stock’s fifty day simple moving average is $16.41 and its 200-day simple moving average is $16.45. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $672.55 million, a price-to-earnings ratio of 19.10 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. Equities research analysts expect that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is 80.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HBNC. Keefe, Bruyette & Woods increased their target price on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler decreased their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a 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.