Horizon Bancorp Inc (NASDAQ:HBNC) insider Dennis Kuhn sold 5,841 shares of Horizon Bancorp stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $20.72, for a total value of $121,025.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of HBNC stock opened at $20.83 on Friday. Horizon Bancorp Inc has a 1 year low of $16.67 and a 1 year high of $22.13. The firm has a market cap of $800.63 million, a PE ratio of 20.42 and a beta of 1.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.99 and a current ratio of 0.99.
Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Horizon Bancorp had a return on equity of 10.03% and a net margin of 23.28%. The company had revenue of $42.48 million for the quarter, compared to analysts’ expectations of $42.33 million. research analysts expect that Horizon Bancorp Inc will post 1.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 20th. Stockholders of record on Friday, July 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, July 5th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 39.22%.
HBNC has been the topic of several research analyst reports. BidaskClub upgraded Horizon Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 6th. Zacks Investment Research upgraded Horizon Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Wednesday, August 1st. Stephens reiterated a “buy” rating and set a $24.00 price target on shares of Horizon Bancorp in a research report on Friday, July 27th. Finally, ValuEngine cut Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Horizon Bancorp has an average rating of “Hold” and a consensus price target of $22.50.
Several hedge funds have recently modified their holdings of HBNC. SG Americas Securities LLC acquired a new position in shares of Horizon Bancorp in the 2nd quarter worth $187,000. Russell Investments Group Ltd. grew its holdings in shares of Horizon Bancorp by 50.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,833 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 3,278 shares during the last quarter. AMI Investment Management Inc. acquired a new position in shares of Horizon Bancorp in the 2nd quarter worth $223,000. Barclays PLC grew its holdings in shares of Horizon Bancorp by 115.6% in the 1st quarter. Barclays PLC now owns 7,859 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 4,214 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Horizon Bancorp by 50.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,660 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors own 35.63% of the company’s stock.
Horizon Bancorp Company Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.
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