Horizon Bancorp (IN) $HBNC Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 26.9% during the first quarter, Holdings Channel reports. The firm owned 153,424 shares of the financial services provider’s stock after purchasing an additional 32,524 shares during the period. Renaissance Technologies LLC’s holdings in Horizon Bancorp (IN) were worth $2,542,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HBNC. EverSource Wealth Advisors LLC boosted its holdings in Horizon Bancorp (IN) by 65.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after buying an additional 660 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Horizon Bancorp (IN) by 160.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after buying an additional 4,024 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Horizon Bancorp (IN) in the fourth quarter valued at $124,000. Raymond James Financial Inc. acquired a new stake in shares of Horizon Bancorp (IN) during the 2nd quarter valued at $134,000. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Horizon Bancorp (IN) during the 3rd quarter valued at $140,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $20.19, for a total transaction of $161,520.00. Following the completion of the sale, the executive vice president directly owned 50,346 shares in the company, valued at approximately $1,016,485.74. This trade represents a 13.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.19% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

HBNC stock opened at $20.42 on Monday. 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 $1.05 billion, a P/E ratio of -6.46 and a beta of 0.82. The firm has a 50 day simple moving average of $19.80 and a 200 day simple moving average of $18.30. Horizon Bancorp has a 52 week low of $14.84 and a 52 week high of $21.04.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data 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 negative net margin of 36.38% and a positive return on equity of 13.52%. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $76.56 million. Research analysts anticipate that Horizon Bancorp will post 2.07 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

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

Analysts Set New Price Targets

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

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.