Kennedy Capital Management LLC Lowers Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Kennedy Capital Management LLC lowered its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 243,304 shares of the financial services provider’s stock after selling 4,773 shares during the quarter. Kennedy Capital Management LLC’s holdings in Horizon Bancorp were worth $3,920,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HBNC. AMI Investment Management Inc. increased its position in Horizon Bancorp by 10.2% during the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,109 shares during the last quarter. Jones Financial Companies Lllp grew 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 buying an additional 1,233 shares during the period. Franklin Resources Inc. increased its holdings in shares of Horizon Bancorp by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock worth $399,000 after buying an additional 1,703 shares during the last quarter. R Squared Ltd purchased a new position in shares of Horizon Bancorp in the 4th quarter worth $39,000. Finally, Meritage Portfolio Management boosted its holdings in Horizon Bancorp by 12.4% in the fourth quarter. Meritage Portfolio Management now owns 22,260 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 2,464 shares during the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th.

Horizon Bancorp Price Performance

Horizon Bancorp stock opened at $12.92 on Friday. The firm has a fifty day moving average of $15.75 and a 200-day moving average of $16.27. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $568.67 million, a P/E ratio of 16.15 and a beta of 0.87.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. As a group, analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.95%. The ex-dividend date is Friday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 80.00%.

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.