Insider Selling: Horizon Bancorp, Inc. (NASDAQ:HBNC) EVP Sells 590 Shares of Stock

by · The Markets Daily

Horizon Bancorp, Inc. (NASDAQ:HBNC – Get Free Report) EVP Todd A. Etzler sold 590 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $17.99, for a total transaction of $10,614.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Horizon Bancorp Stock Performance

NASDAQ:HBNC traded down $0.16 during trading on Thursday, reaching $18.10. The company’s stock had a trading volume of 106,585 shares, compared to its average volume of 161,681. The firm has a 50 day moving average of $16.64 and a 200-day moving average of $14.88. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $791.33 million, a price-to-earnings ratio of 38.85 and a beta of 1.05. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18.

Horizon Bancorp (NASDAQ:HBNC – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. During the same period in the prior year, the company earned $0.37 earnings per share. Research analysts expect that Horizon Bancorp, Inc. will post 1.4 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 3.54%. Horizon Bancorp’s dividend payout ratio is 136.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HBNC. Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.75.

Get Our Latest Stock Report on Horizon Bancorp

Institutional Investors Weigh In On Horizon Bancorp

Several institutional investors have recently made changes to their positions in HBNC. Dimensional Fund Advisors LP boosted its stake in Horizon Bancorp by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after purchasing an additional 135,217 shares during the period. Foundry Partners LLC increased its holdings in Horizon Bancorp by 46.0% during the 3rd quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after acquiring an additional 57,240 shares during the period. Geode Capital Management LLC increased its holdings in Horizon Bancorp by 5.2% during 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 during the period. AQR Capital Management LLC boosted its holdings in Horizon Bancorp by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after purchasing an additional 50,666 shares during the period. Finally, Barclays PLC grew its position in shares of Horizon Bancorp by 62.7% during the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock valued at $1,704,000 after purchasing an additional 42,218 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Company Profile

(Get Free Report)

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.

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