Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,852 shares of the financial services provider’s stock after selling 16,363 shares during the quarter. Two Sigma Investments LP owned approximately 0.20% of Horizon Bancorp worth $1,431,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in shares of Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,233 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $51,000. Quarry LP raised its stake in shares of Horizon Bancorp by 64.4% during the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,352 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $82,000. Finally, POM Investment Strategies LLC acquired a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $92,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Stock Performance

Shares of Horizon Bancorp stock opened at $14.99 on Wednesday. The business has a 50-day moving average of $14.55 and a 200 day moving average of $15.94. Horizon Bancorp, Inc. has a 12 month low of $11.46 and a 12 month high of $19.18. The stock has a market capitalization of $659.78 million, a price-to-earnings ratio of 18.74 and a beta of 0.82. 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 (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $69.17 million during the quarter, compared to analysts’ expectations of $64.52 million. As a group, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.27%. Horizon Bancorp’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HBNC. Piper Sandler reduced their target price on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target 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 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.