14,543 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 14,543 shares of the financial services provider’s stock, valued at approximately $234,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after acquiring an additional 52,423 shares in the last quarter. Barclays PLC increased its holdings in shares of Horizon Bancorp by 62.7% during the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after buying an additional 42,218 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Horizon Bancorp by 37.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 28,999 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Horizon Bancorp by 7.0% in the third 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. Finally, Rhumbline Advisers raised its stake in shares of Horizon Bancorp by 3.7% in the fourth quarter. Rhumbline Advisers now owns 69,900 shares of the financial services provider’s stock worth $1,126,000 after acquiring an additional 2,521 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Price Performance

NASDAQ HBNC opened at $15.52 on Thursday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $683.11 million, a price-to-earnings ratio of 19.40 and a beta of 1.05. The business has a 50 day simple moving average of $16.42 and a 200 day simple moving average of $16.44. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data 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 net margin of 9.86% and a return on equity of 8.48%. Analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Wall Street Analysts Forecast Growth

HBNC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered their price target on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th.

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.