Horizon Bancorp, Inc. (NASDAQ:HBNC) Position Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 892,161 shares of the financial services provider’s stock after selling 10,689 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.04% of Horizon Bancorp worth $14,373,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HBNC. Barclays PLC grew its position in shares of Horizon Bancorp by 62.7% during the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after acquiring an additional 42,218 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Horizon Bancorp by 37.4% during 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. AMI Investment Management Inc. grew its position in 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 purchasing an additional 1,109 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Horizon Bancorp by 25.5% in the fourth quarter. SG Americas Securities LLC now owns 27,055 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 5,499 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Horizon Bancorp during the fourth quarter valued at approximately $39,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Price Performance

NASDAQ HBNC opened at $15.10 on Friday. The firm has a market capitalization of $664.63 million, a PE ratio of 18.88 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 12 month low of $11.46 and a 12 month high of $19.18. The company’s 50 day simple moving average is $14.83 and its 200 day simple moving average is $16.18.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 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 company had revenue of $69.17 million for the quarter, compared to the consensus estimate of $64.52 million. As a group, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders 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 4.24%. Horizon Bancorp’s dividend payout ratio (DPR) is 62.75%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler lowered their target price on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a 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.