Teacher Retirement System of Texas Purchases New Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Teacher Retirement System of Texas acquired a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,522 shares of the financial services provider’s stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock worth $16,387,000 after acquiring an additional 52,423 shares in the last quarter. Barclays PLC grew its stake in Horizon Bancorp by 62.7% in the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 42,218 shares during the period. JPMorgan Chase & Co. raised its holdings in Horizon Bancorp by 37.4% in the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 28,999 shares in the last quarter. Franklin Resources Inc. lifted its position in Horizon Bancorp by 7.0% during the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock valued at $399,000 after buying an additional 1,703 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Horizon Bancorp during the 4th quarter valued at $602,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on HBNC. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their price objective on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, January 27th.

Horizon Bancorp Trading Down 2.3 %

Horizon Bancorp stock opened at $15.16 on Monday. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18. The company has a market capitalization of $667.27 million, a price-to-earnings ratio of 18.95 and a beta of 1.05. The business’s fifty day simple moving average is $16.40 and its two-hundred day simple moving average is $16.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC) last posted 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 return on equity of 8.48% and a net margin of 9.86%. As a group, equities analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.16 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.22%. Horizon Bancorp’s dividend payout ratio 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.