Quantinno Capital Management LP Grows Stock Position in Horizon Bancorp (IN) $HBNC

Quantinno Capital Management LP grew its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 66.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,339 shares of the financial services provider’s stock after buying an additional 31,402 shares during the quarter. Quantinno Capital Management LP owned 0.15% of Horizon Bancorp (IN) worth $1,298,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Horizon Bancorp (IN) by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock worth $54,093,000 after acquiring an additional 176,448 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Horizon Bancorp (IN) by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock valued at $41,116,000 after acquiring an additional 75,462 shares during the period. PL Capital Advisors LLC lifted its holdings in Horizon Bancorp (IN) by 7.2% in the fourth quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock valued at $30,746,000 after acquiring an additional 121,651 shares during the period. Jennison Associates LLC boosted its position in Horizon Bancorp (IN) by 29.3% in the 1st quarter. Jennison Associates LLC now owns 1,605,798 shares of the financial services provider’s stock worth $26,608,000 after purchasing an additional 363,433 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Horizon Bancorp (IN) in the 3rd quarter worth approximately $24,842,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Insiders Place Their Bets

In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $20.19, for a total transaction of $161,520.00. Following the transaction, the executive vice president directly owned 50,346 shares of the company’s stock, valued at $1,016,485.74. This trade represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.19% of the company’s stock.

Horizon Bancorp (IN) Stock Up 0.2%

Horizon Bancorp (IN) stock opened at $20.57 on Friday. The stock has a market capitalization of $1.06 billion, a PE ratio of -6.51 and a beta of 0.82. Horizon Bancorp has a 12 month low of $14.84 and a 12 month high of $21.04. The business has a 50 day simple moving average of $19.99 and a 200-day simple moving average of $18.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.90.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Horizon Bancorp (IN) had a positive return on equity of 13.31% and a negative net margin of 36.38%.The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $76.56 million. On average, analysts anticipate that Horizon Bancorp will post 2.07 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.33.

Horizon Bancorp (IN) 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.