Segall Bryant & Hamill LLC Invests $1.83 Million in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Segall Bryant & Hamill LLC purchased a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC) during the fourth quarter, HoldingsChannel reports. The fund purchased 113,373 shares of the financial services provider’s stock, valued at approximately $1,826,000.

Several other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Horizon Bancorp by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock valued at $5,458,000 after purchasing an additional 22,727 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Horizon Bancorp by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,070 shares of the financial services provider’s stock worth $328,000 after buying an additional 4,501 shares in the last quarter. Walleye Capital LLC acquired a new stake in Horizon Bancorp in the 3rd quarter valued at about $169,000. Centiva Capital LP acquired a new stake in Horizon Bancorp in the 3rd quarter valued at about $163,000. Finally, Quarry LP increased its holdings in Horizon Bancorp by 508.1% during the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,753 shares in the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Trading Down 2.3 %

Shares of HBNC stock opened at $15.16 on Friday. The company has a market capitalization of $667.27 million, a price-to-earnings ratio of 18.95 and a beta of 1.05. 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 firm has a 50-day moving average price of $16.40 and a 200 day moving average price of $16.43. 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 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%. Research analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 annualized dividend and a yield of 4.22%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 80.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HBNC shares. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler reduced 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.