Graham Capital Management L.P. Acquires New Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Graham Capital Management L.P. bought a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) in the fourth quarter, Holdings Channel reports. The fund bought 17,991 shares of the financial services provider’s stock, valued at approximately $290,000.

Several other large investors have also recently bought and sold shares of HBNC. AMI Investment Management Inc. lifted its stake in shares of Horizon Bancorp by 10.2% in the 4th quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 1,109 shares during the period. Jones Financial Companies Lllp raised its holdings in Horizon Bancorp by 362.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,233 shares in the last quarter. Quarry LP lifted its position in Horizon Bancorp by 64.4% in the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,352 shares during the period. Rhino Investment Partners Inc boosted its stake in Horizon Bancorp by 0.4% during the 4th quarter. Rhino Investment Partners Inc now owns 530,363 shares of the financial services provider’s stock valued at $8,544,000 after purchasing an additional 2,104 shares in the last quarter. Finally, R Squared Ltd bought a new position in Horizon Bancorp during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HBNC shares. Piper Sandler cut their price objective on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped 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, April 25th.

Horizon Bancorp Trading Down 0.5%

Horizon Bancorp stock opened at $15.80 on Friday. The firm has a market cap of $695.44 million, a price-to-earnings ratio of 19.75 and a beta of 0.82. Horizon Bancorp, Inc. has a 1 year low of $11.46 and a 1 year high of $19.18. The firm’s 50 day moving average price is $14.67 and its two-hundred day moving average price is $16.16. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $64.52 million. On average, research analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, April 4th. This represents a $0.64 annualized dividend and a yield of 4.05%. Horizon Bancorp’s payout ratio is presently 62.75%.

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.