Pacific Ridge Capital Partners LLC Lowers Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Pacific Ridge Capital Partners LLC trimmed its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 419,059 shares of the financial services provider’s stock after selling 3,612 shares during the quarter. Horizon Bancorp makes up approximately 1.5% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 21st biggest holding. Pacific Ridge Capital Partners LLC’s holdings in Horizon Bancorp were worth $6,751,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HBNC. PL Capital Advisors LLC lifted its position in shares of 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 buying an additional 22,420,759 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $3,783,000. Segall Bryant & Hamill LLC purchased a new stake in Horizon Bancorp during the fourth quarter valued at approximately $1,826,000. JPMorgan Chase & Co. boosted its stake in Horizon Bancorp by 99.4% in the fourth quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider’s stock valued at $3,424,000 after acquiring an additional 105,959 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Horizon Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock worth $39,506,000 after purchasing an additional 91,476 shares during the last quarter. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Up 0.7 %

Shares of Horizon Bancorp stock opened at $15.52 on Thursday. The firm’s 50 day simple moving average is $16.42 and its two-hundred day simple moving average is $16.44. The firm has a market capitalization of $683.11 million, a price-to-earnings ratio of 19.40 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 company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83.

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

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, April 4th. Horizon Bancorp’s payout ratio is 80.00%.

Analysts Set New Price Targets

Several analysts have recently commented on HBNC shares. Piper Sandler decreased their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note 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.