Siena Capital Partners GP LLC Buys 69,286 Shares of Horizon Bancorp (IN) $HBNC

Siena Capital Partners GP LLC lifted its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 53.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the financial services provider’s stock after acquiring an additional 69,286 shares during the period. Siena Capital Partners GP LLC owned approximately 0.39% of Horizon Bancorp (IN) worth $3,392,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Horizon Bancorp (IN) by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after buying an additional 1,057 shares in the last quarter. Empowered Funds LLC raised its holdings in Horizon Bancorp (IN) by 28.5% during the first quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 33,355 shares in the last quarter. Jane Street Group LLC bought a new stake in Horizon Bancorp (IN) during the first quarter worth about $1,231,000. Rhumbline Advisers raised its holdings in Horizon Bancorp (IN) by 3.2% during the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 2,093 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Horizon Bancorp (IN) during the second quarter worth about $816,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

NASDAQ HBNC opened at $18.75 on Monday. The firm has a 50-day moving average of $17.84 and a 200-day moving average of $17.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market cap of $962.44 million, a PE ratio of -5.90 and a beta of 0.83. Horizon Bancorp has a 52-week low of $14.34 and a 52-week high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. On average, sell-side analysts anticipate that Horizon Bancorp will post 2.1 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.13%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stephens assumed coverage on Horizon Bancorp (IN) in a report on Friday, March 27th. They set an “overweight” rating and a $20.00 target price on the stock. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Horizon Bancorp (IN) has a consensus rating of “Hold” and an average price target of $20.67.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.