Charles Schwab Investment Management Inc. Raises Stock Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,247 shares of the financial services provider’s stock after buying an additional 8,266 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Horizon Bancorp were worth $5,787,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of Horizon Bancorp by 362.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,233 shares during the last quarter. Quarry LP raised 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 valued at $33,000 after purchasing an additional 1,753 shares during the period. R Squared Ltd acquired a new position in Horizon Bancorp during the fourth quarter worth $39,000. POM Investment Strategies LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter worth $92,000. Finally, Centiva Capital LP acquired a new stake in shares of Horizon Bancorp in the third quarter valued at $163,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Stock Up 2.8 %

Horizon Bancorp stock opened at $15.71 on Tuesday. The firm has a market capitalization of $691.48 million, a P/E ratio of 19.64 and a beta of 1.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18. The stock’s fifty day simple moving average is $16.43 and its 200-day simple moving average is $16.45.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 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%. As a group, equities analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.07%. Horizon Bancorp’s payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HBNC. Piper Sandler decreased their target price on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

About Horizon Bancorp

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.