Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) in the fourth quarter, Holdings Channel.com reports. The firm acquired 37,357 shares of the financial services provider’s stock, valued at approximately $602,000.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of 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 purchasing an additional 1,233 shares in the last quarter. Quarry LP grew its position in Horizon Bancorp by 508.1% in the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,753 shares in the last quarter. R Squared Ltd purchased a new position in Horizon Bancorp in the fourth quarter worth $39,000. POM Investment Strategies LLC purchased a new position in Horizon Bancorp in the fourth quarter worth $92,000. Finally, AMG National Trust Bank purchased a new position in Horizon Bancorp in the fourth quarter worth $161,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HBNC shares. Piper Sandler lowered their price target on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Horizon Bancorp Price Performance

HBNC stock opened at $15.28 on Friday. The company has a market cap of $672.55 million, a P/E ratio of 19.10 and a beta of 1.05. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year high of $19.18. The firm has a 50-day moving average of $16.41 and a 200 day moving average of $16.45.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results 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%. On average, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given 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 currently 80.00%.

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.