Hillsdale Investment Management Inc. Purchases New Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Hillsdale Investment Management Inc. acquired a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 234,810 shares of the financial services provider’s stock, valued at approximately $3,783,000. Hillsdale Investment Management Inc. owned 0.54% of Horizon Bancorp at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Horizon Bancorp by 5.2% during the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock worth $16,387,000 after purchasing an additional 52,423 shares during the period. Barclays PLC lifted its stake in shares of Horizon Bancorp by 62.7% in the 3rd 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 period. JPMorgan Chase & Co. lifted its stake in shares of Horizon Bancorp by 37.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 28,999 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Horizon Bancorp by 7.0% in the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,703 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Horizon Bancorp by 3.7% during the fourth quarter. Rhumbline Advisers now owns 69,900 shares of the financial services provider’s stock worth $1,126,000 after acquiring an additional 2,521 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp Trading Down 2.1 %

Shares of HBNC opened at $15.28 on Friday. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve 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. The firm has a market capitalization of $672.55 million, a P/E ratio of 19.10 and a beta of 1.05. The firm’s 50-day moving average is $16.41 and its two-hundred day moving average is $16.45.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share 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, research analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

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

Analysts Set New Price Targets

HBNC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler decreased their price target 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.

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.