AMG National Trust Bank Buys New Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

AMG National Trust Bank bought a new stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,000 shares of the financial services provider’s stock, valued at approximately $161,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings 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 worth $25,000 after purchasing an additional 1,233 shares in the last quarter. Quarry LP grew its holdings in shares of Horizon Bancorp by 508.1% during the 3rd 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 in the last quarter. R Squared Ltd acquired a new stake in shares of Horizon Bancorp during the 4th quarter worth approximately $39,000. POM Investment Strategies LLC acquired a new stake in shares of Horizon Bancorp during the 4th quarter worth approximately $92,000. Finally, Centiva Capital LP acquired a new stake in shares of Horizon Bancorp during the 3rd quarter worth approximately $163,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Price Performance

Horizon Bancorp stock opened at $15.97 on Monday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $698.13 million, a PE ratio of 19.96 and a beta of 1.05. Horizon Bancorp, Inc. has a one year low of $11.18 and a one year high of $19.18. The business has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $16.47.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS 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%. On average, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a $0.16 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 4.01%. Horizon Bancorp’s payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

HBNC has been the topic of several recent research reports. Piper Sandler decreased their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.