AQR Capital Management LLC purchased a new position in shares of Horizon Bancorp Inc (NASDAQ:HBNC) in the second quarter, according to its most recent filing with the SEC. The firm purchased 50,985 shares of the financial services provider’s stock, valued at approximately $545,000. AQR Capital Management LLC owned 0.12% of Horizon Bancorp at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Marshall Wace LLP acquired a new stake in Horizon Bancorp during the 1st quarter worth about $26,000. Captrust Financial Advisors bought a new position in shares of Horizon Bancorp during the 2nd quarter worth about $50,000. Woodley Farra Manion Portfolio Management Inc. boosted its position in shares of Horizon Bancorp by 55.9% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 8,505 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 3,050 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Horizon Bancorp during the 2nd quarter worth about $109,000. Finally, Denali Advisors LLC boosted its position in shares of Horizon Bancorp by 570.6% during the 2nd quarter. Denali Advisors LLC now owns 10,730 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 9,130 shares in the last quarter. Hedge funds and other institutional investors own 51.93% of the company’s stock.
A number of research firms have recently issued reports on HBNC. BidaskClub cut shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 17th. Zacks Investment Research cut shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, ValuEngine cut shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Horizon Bancorp presently has an average rating of “Hold” and an average target price of $13.25.
Shares of NASDAQ HBNC opened at $10.44 on Friday. Horizon Bancorp Inc has a fifty-two week low of $7.42 and a fifty-two week high of $19.48. The stock has a market cap of $458.05 million, a price-to-earnings ratio of 7.15 and a beta of 1.32. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50-day simple moving average is $10.68 and its 200 day simple moving average is $10.23.
Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.10. Horizon Bancorp had a net margin of 25.36% and a return on equity of 10.12%. The business had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $52.50 million. On average, sell-side analysts predict that Horizon Bancorp Inc will post 1.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a $0.12 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.48 annualized dividend and a yield of 4.60%. Horizon Bancorp’s payout ratio is 29.27%.
Horizon Bancorp Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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