Horizon Bancorp Inc (NASDAQ:HBNC) President James D. Neff sold 3,084 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $32.59, for a total transaction of $100,507.56. Following the completion of the transaction, the president now directly owns 150,410 shares in the company, valued at $4,901,861.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Horizon Bancorp stock opened at $21.29 on Friday. The stock has a market capitalization of $829.91 million, a price-to-earnings ratio of 20.87 and a beta of 1.09. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.21. Horizon Bancorp Inc has a twelve month low of $16.67 and a twelve month high of $22.13.
Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Horizon Bancorp had a return on equity of 9.53% and a net margin of 21.79%. The business had revenue of $41.73 million for the quarter, compared to the consensus estimate of $40.63 million. equities analysts forecast that Horizon Bancorp Inc will post 1.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Stockholders of record on Friday, July 6th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, July 5th. This represents a $0.40 annualized dividend and a dividend yield of 1.88%. Horizon Bancorp’s dividend payout ratio is presently 39.22%.
Several research analysts have weighed in on HBNC shares. BidaskClub raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, March 24th. ValuEngine raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. Finally, Zacks Investment Research cut shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.89.
Large investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in Horizon Bancorp by 115.6% in the first quarter. Barclays PLC now owns 7,859 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 4,214 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Horizon Bancorp in the fourth quarter valued at approximately $221,000. Bedel Financial Consulting Inc. bought a new position in Horizon Bancorp in the fourth quarter valued at approximately $240,000. MetLife Investment Advisors LLC bought a new position in Horizon Bancorp in the fourth quarter valued at approximately $270,000. Finally, Virtu Financial LLC bought a new position in Horizon Bancorp in the fourth quarter valued at approximately $282,000. 51.40% of the stock is currently owned by institutional investors and hedge funds.
About Horizon Bancorp
Horizon Bancorp 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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