JPMorgan Chase & Co. Boosts Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

JPMorgan Chase & Co. grew its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 99.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 212,568 shares of the financial services provider’s stock after acquiring an additional 105,959 shares during the period. JPMorgan Chase & Co.’s holdings in Horizon Bancorp were worth $3,424,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Horizon Bancorp by 362.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,233 shares in the last quarter. R Squared Ltd bought a new stake in shares of Horizon Bancorp in the 4th quarter worth approximately $39,000. POM Investment Strategies LLC purchased a new stake in shares of Horizon Bancorp in the 4th quarter valued at $92,000. Quantbot Technologies LP grew its holdings in shares of Horizon Bancorp by 4,298.5% during the 4th quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 8,554 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Horizon Bancorp during the 4th quarter valued at $143,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Performance

NASDAQ:HBNC opened at $13.49 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp, Inc. has a fifty-two week low of $11.36 and a fifty-two week high of $19.18. The firm has a market cap of $593.76 million, a PE ratio of 16.86 and a beta of 0.87. The business has a 50 day moving average price of $15.26 and a 200-day moving average price of $16.21.

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 analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. Equities research analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Friday, April 4th. Horizon Bancorp’s payout ratio is 80.00%.

Analyst Upgrades and Downgrades

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

Horizon Bancorp Profile

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.