Balyasny Asset Management L.P. Invests $168,000 in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Balyasny Asset Management L.P. bought a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,404 shares of the financial services provider’s stock, valued at approximately $168,000.

Several other large investors have also recently bought and sold shares of the stock. PL Capital Advisors LLC grew its position in Horizon Bancorp by 1,521.9% in the 4th quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock worth $384,931,000 after purchasing an additional 22,420,759 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Horizon Bancorp during the fourth quarter worth about $3,783,000. Segall Bryant & Hamill LLC acquired a new stake in Horizon Bancorp during the fourth quarter worth about $1,826,000. JPMorgan Chase & Co. increased its stake in Horizon Bancorp by 99.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider’s stock valued at $3,424,000 after acquiring an additional 105,959 shares during the period. Finally, Vanguard Group Inc. increased its stake in Horizon Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock valued at $39,506,000 after acquiring an additional 91,476 shares during the period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Stock Down 0.5%

NASDAQ HBNC opened at $15.80 on Monday. Horizon Bancorp, Inc. has a 1-year low of $11.46 and a 1-year high of $19.18. The company has a market capitalization of $695.44 million, a price-to-earnings ratio of 19.75 and a beta of 0.82. The stock’s 50 day moving average is $14.67 and its two-hundred day moving average is $16.16. 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 (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The firm had revenue of $69.17 million during the quarter, compared to analyst estimates of $64.52 million. Equities analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.05%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analyst Weigh In

A number of analysts have commented on HBNC shares. Piper Sandler reduced their price objective on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Friday, April 25th.

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.