Squarepoint Ops LLC Invests $322,000 in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Squarepoint Ops LLC purchased a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) during the second quarter, Holdings Channel.com reports. The fund purchased 26,070 shares of the financial services provider’s stock, valued at approximately $322,000.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in Horizon Bancorp by 1,656.2% in the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 3,064 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Horizon Bancorp in the 1st quarter valued at approximately $80,000. EMC Capital Management increased its position in Horizon Bancorp by 11.0% in the 1st quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,064 shares during the period. Elser Financial Planning Inc acquired a new stake in Horizon Bancorp in the 2nd quarter valued at approximately $137,000. Finally, Price T Rowe Associates Inc. MD increased its position in Horizon Bancorp by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,749 shares during the period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Hovde Group assumed coverage on Horizon Bancorp in a research note on Monday, September 30th. They set an “outperform” rating and a $18.00 price target for the company. Piper Sandler increased their price target on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

Horizon Bancorp Stock Performance

HBNC opened at $15.23 on Friday. The firm has a market cap of $671.89 million, a PE ratio of 28.20 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The business has a fifty day simple moving average of $15.20 and a 200-day simple moving average of $13.50. Horizon Bancorp, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $16.64.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $97.47 million during the quarter, compared to analyst estimates of $55.03 million. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. During the same period last year, the company posted $0.41 EPS. As a group, equities analysts predict that Horizon Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, October 4th. Horizon Bancorp’s dividend payout ratio is presently 118.52%.

Horizon Bancorp Company 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.