LSV Asset Management Acquires 64,532 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

LSV Asset Management raised its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 614,055 shares of the financial services provider’s stock after purchasing an additional 64,532 shares during the quarter. LSV Asset Management owned 1.40% of Horizon Bancorp worth $9,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Horizon Bancorp by 362.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,233 shares in the last quarter. R Squared Ltd bought a new position in shares of Horizon Bancorp in the fourth quarter worth about $39,000. POM Investment Strategies LLC acquired a new stake in shares of Horizon Bancorp in the 4th quarter valued at approximately $92,000. Quantbot Technologies LP grew its holdings in shares of Horizon Bancorp by 4,298.5% during the 4th quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 8,554 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Horizon Bancorp during the 4th quarter worth approximately $143,000. Institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th.

Horizon Bancorp Stock Performance

Shares of HBNC stock opened at $12.92 on Friday. The firm has a market capitalization of $568.67 million, a price-to-earnings ratio of 16.15 and a beta of 0.87. 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 business’s 50-day moving average price is $15.75 and its 200-day moving average price is $16.27. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. Equities research analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.95%. Horizon Bancorp’s dividend payout ratio is 80.00%.

About Horizon Bancorp

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.