Renaissance Technologies LLC Has $1.45 Million Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Renaissance Technologies LLC lifted its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 58.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 89,716 shares of the financial services provider’s stock after buying an additional 33,000 shares during the quarter. Renaissance Technologies LLC owned about 0.21% of Horizon Bancorp worth $1,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC raised its holdings in Horizon Bancorp by 32.0% in the 3rd quarter. Jane Street Group LLC now owns 57,068 shares of the financial services provider’s stock valued at $887,000 after acquiring an additional 13,827 shares during the period. Geode Capital Management LLC increased its stake 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 period. Barclays PLC lifted its holdings in Horizon Bancorp by 62.7% during the 3rd 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 during the last quarter. Franklin Resources Inc. lifted its holdings in Horizon Bancorp by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 1,703 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Horizon Bancorp by 37.4% in 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 during the period. Institutional investors own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HBNC shares. Piper Sandler dropped their target price on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday. Keefe, Bruyette & Woods lowered their price target on shares of Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Friday.

Horizon Bancorp Price Performance

Shares of NASDAQ HBNC opened at $14.74 on Tuesday. The business has a fifty day moving average price of $14.98 and a two-hundred day moving average price of $16.20. The stock has a market capitalization of $648.78 million, a PE ratio of 18.43 and a beta of 0.87. 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 fifty-two week low of $11.40 and a fifty-two week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The business had revenue of $69.17 million during the quarter, compared to the consensus estimate of $64.52 million. As a group, equities analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a dividend of $0.16 per share. The ex-dividend date was Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.34%. Horizon Bancorp’s dividend payout ratio is 62.75%.

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.