Horizon Bancorp (NASDAQ:HBNC) insider Dennis Kuhn sold 7,500 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the completion of the sale, the insider now owns 7,500 shares of the company’s stock, valued at approximately $225,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Horizon Bancorp (NASDAQ HBNC) traded up $0.27 during trading hours on Friday, reaching $29.53. The company’s stock had a trading volume of 42,372 shares, compared to its average volume of 82,528. Horizon Bancorp has a 1 year low of $24.41 and a 1 year high of $30.89. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $747.57, a PE ratio of 20.51 and a beta of 1.05.
Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Horizon Bancorp had a net margin of 20.49% and a return on equity of 9.85%. The business had revenue of $40.80 million during the quarter, compared to analyst estimates of $40.73 million. equities analysts expect that Horizon Bancorp will post 2.14 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in Horizon Bancorp by 0.4% in the second quarter. Wells Fargo & Company MN now owns 49,624 shares of the financial services provider’s stock valued at $1,307,000 after acquiring an additional 189 shares during the period. Nationwide Fund Advisors grew its stake in Horizon Bancorp by 3.3% in the second quarter. Nationwide Fund Advisors now owns 14,031 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 449 shares during the period. Voya Investment Management LLC grew its stake in Horizon Bancorp by 9.0% in the second quarter. Voya Investment Management LLC now owns 14,419 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 1,191 shares during the period. Goldman Sachs Group Inc. grew its stake in Horizon Bancorp by 20.7% in the second quarter. Goldman Sachs Group Inc. now owns 9,914 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 1,700 shares during the period. Finally, California State Teachers Retirement System grew its stake in Horizon Bancorp by 7.0% in the fourth quarter. California State Teachers Retirement System now owns 36,464 shares of the financial services provider’s stock valued at $1,014,000 after acquiring an additional 2,400 shares during the period. 46.83% of the stock is owned by hedge funds and other institutional investors.
HBNC has been the subject of a number of recent analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $35.00 price objective on shares of Horizon Bancorp in a report on Monday, January 29th. Zacks Investment Research upgraded Horizon Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, January 10th. BidaskClub upgraded Horizon Bancorp from a “hold” rating to a “buy” rating in a report on Monday, February 5th. ValuEngine upgraded Horizon Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, Sandler O’Neill reissued a “hold” rating and issued a $29.50 target price on shares of Horizon Bancorp in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.88.
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Horizon Bancorp Company Profile
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.
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