Intech Investment Management LLC Takes Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Intech Investment Management LLC acquired a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the fourth quarter, Holdings Channel reports. The firm acquired 17,775 shares of the financial services provider’s stock, valued at approximately $286,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. PL Capital Advisors LLC lifted its position in shares of Horizon Bancorp by 1,521.9% during the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock valued at $384,931,000 after buying an additional 22,420,759 shares during the last quarter. Geode Capital Management LLC lifted its position in Horizon Bancorp by 5.2% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Horizon Bancorp by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 359,247 shares of the financial services provider’s stock valued at $5,787,000 after acquiring an additional 8,266 shares in the last quarter. Empowered Funds LLC grew its holdings in Horizon Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 117,080 shares of the financial services provider’s stock worth $1,886,000 after purchasing an additional 5,686 shares during the last quarter. Finally, Barclays PLC increased its position 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 purchasing an additional 42,218 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective 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 dropped their price target 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.

Horizon Bancorp Price Performance

Shares of HBNC opened at $15.52 on Thursday. The firm has a market capitalization of $683.11 million, a PE ratio of 19.40 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. The company’s fifty day moving average price is $16.42 and its 200-day moving average price is $16.44. Horizon Bancorp, Inc. has a 1-year low of $11.18 and a 1-year high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data 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, equities research analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, April 4th. Horizon Bancorp’s dividend payout ratio is presently 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.