Horizon Bancorp Inc (NASDAQ:HBNC) President James D. Neff bought 3,000 shares of Horizon Bancorp stock in a transaction dated Thursday, December 6th. The stock was acquired at an average cost of $16.25 per share, with a total value of $48,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Horizon Bancorp stock traded up $0.01 during trading hours on Friday, reaching $16.41. The company had a trading volume of 115,470 shares, compared to its average volume of 65,368. Horizon Bancorp Inc has a one year low of $16.06 and a one year high of $22.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $629.23 million, a P/E ratio of 16.09 and a beta of 1.11.
Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.06). Horizon Bancorp had a return on equity of 10.28% and a net margin of 24.49%. The company had revenue of $42.46 million during the quarter, compared to the consensus estimate of $43.43 million. Sell-side analysts expect that Horizon Bancorp Inc will post 1.4 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of HBNC. SG Americas Securities LLC bought a new position in shares of Horizon Bancorp in the second quarter worth $187,000. Russell Investments Group Ltd. raised its position in shares of Horizon Bancorp by 50.0% in the second quarter. Russell Investments Group Ltd. now owns 9,833 shares of the financial services provider’s stock worth $203,000 after buying an additional 3,278 shares in the last quarter. AMI Investment Management Inc. purchased a new stake in shares of Horizon Bancorp in the second quarter worth $223,000. Metropolitan Life Insurance Co. NY raised its position in shares of Horizon Bancorp by 50.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,660 shares of the financial services provider’s stock worth $241,000 after buying an additional 3,887 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Horizon Bancorp by 50.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 11,895 shares of the financial services provider’s stock worth $246,000 after buying an additional 3,965 shares in the last quarter. 53.17% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on HBNC shares. BidaskClub lowered Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, August 30th. Raymond James reduced their price objective on Horizon Bancorp from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Zacks Investment Research lowered Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Finally, ValuEngine lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Horizon Bancorp has an average rating of “Hold” and a consensus price target of $22.00.
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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