Hillsdale Investment Management Inc. Takes Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Hillsdale Investment Management Inc. bought a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) during the fourth quarter, HoldingsChannel.com reports. The firm bought 234,810 shares of the financial services provider’s stock, valued at approximately $3,783,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,233 shares during the last quarter. Quarry LP increased its position in Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,753 shares during the last quarter. R Squared Ltd purchased a new position in Horizon Bancorp during the fourth quarter worth approximately $39,000. POM Investment Strategies LLC acquired a new position in shares of Horizon Bancorp in the 4th quarter valued at $92,000. Finally, Quantbot Technologies LP grew its stake in shares of Horizon Bancorp by 4,298.5% during the 4th quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider’s stock valued at $141,000 after buying an additional 8,554 shares during the period. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Performance

Shares of HBNC stock opened at $15.28 on Friday. The company’s fifty day simple moving average is $16.41 and its 200-day simple moving average is $16.45. 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, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The company has a market cap of $672.55 million, a PE ratio of 19.10 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share 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, equities research analysts anticipate 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. Shareholders of record on Friday, April 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is 80.00%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. 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 report on Monday, January 27th. 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 research note on Wednesday, December 4th.

Horizon Bancorp 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.