Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 62.7% during the third quarter, Holdings Channel.com reports. The firm owned 109,553 shares of the financial services provider’s stock after buying an additional 42,218 shares during the period. Barclays PLC’s holdings in Horizon Bancorp were worth $1,704,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HBNC. Dimensional Fund Advisors LP lifted its stake in shares of Horizon Bancorp by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock valued at $28,160,000 after buying an additional 135,217 shares during the period. Foundry Partners LLC raised its holdings in Horizon Bancorp by 46.0% in the 3rd quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock valued at $2,824,000 after acquiring an additional 57,240 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 worth $16,387,000 after purchasing an additional 52,423 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Horizon Bancorp by 11.9% in the second quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after purchasing an additional 50,666 shares during the period. Finally, Bank of Montreal Can acquired a new position in Horizon Bancorp in the second quarter valued at $432,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Price Performance

HBNC stock opened at $15.00 on Friday. The company has a market cap of $655.73 million, a PE ratio of 31.92 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock has a 50-day moving average price of $17.28 and a two-hundred day moving average price of $15.75. Horizon Bancorp, Inc. has a 12-month low of $11.18 and a 12-month high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same quarter in the previous year, the business earned $0.37 EPS. As a group, research analysts predict that Horizon Bancorp, Inc. will post 1.4 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, January 3rd. Horizon Bancorp’s payout ratio is currently 136.17%.

Analyst Upgrades and Downgrades

HBNC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group assumed coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

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.