Media coverage about Horizon Bancorp (NASDAQ:HBNC) has trended somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Horizon Bancorp earned a news impact score of 0.16 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 46.3798019083851 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Horizon Bancorp stock traded down $0.14 during trading hours on Thursday, hitting $20.30. The company had a trading volume of 436 shares, compared to its average volume of 66,269. The stock has a market cap of $795.26 million, a P/E ratio of 19.90 and a beta of 1.01. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.20. Horizon Bancorp has a one year low of $16.67 and a one year high of $22.13.
Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The firm had revenue of $42.48 million for the quarter, compared to analysts’ expectations of $42.33 million. Horizon Bancorp had a net margin of 23.28% and a return on equity of 10.03%. equities analysts anticipate that Horizon Bancorp will post 1.46 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on HBNC. BidaskClub raised shares of Horizon Bancorp from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 6th. Zacks Investment Research raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a report on Wednesday, August 1st. Stephens reaffirmed a “buy” rating and issued a $24.00 target price on shares of Horizon Bancorp in a report on Friday, July 27th. Finally, ValuEngine cut shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.50.
In other Horizon Bancorp news, Director Larry N. Middleton sold 2,500 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $20.69, for a total value of $51,725.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dennis Kuhn sold 5,841 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $20.72, for a total transaction of $121,025.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,425 shares of company stock worth $273,258. Insiders own 4.60% 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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