Foundry Partners LLC Buys 52,875 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Foundry Partners LLC raised its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 29.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 234,475 shares of the financial services provider’s stock after purchasing an additional 52,875 shares during the quarter. Foundry Partners LLC’s holdings in Horizon Bancorp were worth $3,777,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HBNC. PL Capital Advisors LLC increased its stake in shares of Horizon Bancorp by 1,521.9% in the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock worth $384,931,000 after buying an additional 22,420,759 shares during the period. Vanguard Group Inc. grew its holdings in Horizon Bancorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock worth $39,506,000 after acquiring an additional 91,476 shares during the last quarter. Geode Capital Management LLC increased 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 during the period. American Century Companies Inc. raised its stake in shares of Horizon Bancorp by 0.9% during the fourth quarter. American Century Companies Inc. now owns 568,469 shares of the financial services provider’s stock valued at $9,158,000 after acquiring an additional 5,129 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Horizon Bancorp by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 359,247 shares of the financial services provider’s stock worth $5,787,000 after purchasing an additional 8,266 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Stock Performance

NASDAQ:HBNC opened at $13.29 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm’s fifty day simple moving average is $16.25 and its 200 day simple moving average is $16.39. The stock has a market cap of $584.96 million, a P/E ratio of 16.61 and a beta of 1.05. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data 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%. As a group, research analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.82%. Horizon Bancorp’s dividend payout ratio is presently 80.00%.

Wall Street Analyst Weigh In

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

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.