Magnetar Financial LLC Buys 6,538 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Magnetar Financial LLC raised its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 21.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 37,088 shares of the financial services provider’s stock after purchasing an additional 6,538 shares during the period. Magnetar Financial LLC owned 0.08% of Horizon Bancorp worth $597,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of HBNC. PL Capital Advisors LLC grew its holdings in Horizon Bancorp by 1,521.9% during the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock valued at $384,931,000 after purchasing an additional 22,420,759 shares during the period. Foundry Partners LLC grew its holdings in Horizon Bancorp by 46.0% during the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock valued at $2,824,000 after purchasing an additional 57,240 shares during the period. Geode Capital Management LLC lifted its position in shares of Horizon Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after acquiring an additional 52,423 shares in the last quarter. Barclays PLC lifted its position in shares of Horizon Bancorp by 62.7% in the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock valued at $1,704,000 after acquiring an additional 42,218 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Horizon Bancorp in the fourth quarter valued at about $669,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Price Performance

NASDAQ:HBNC opened at $15.28 on Friday. 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 company has a market capitalization of $672.55 million, a P/E ratio of 19.10 and a beta of 1.05. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18. The business’s 50-day moving average is $16.41 and its 200 day moving average is $16.44.

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 analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a $0.16 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.19%. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Analyst Upgrades and Downgrades

HBNC has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

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.