Insider Selling: Horizon Bancorp, Inc. (NASDAQ:HBNC) EVP Sells $10,614.10 in Stock

Horizon Bancorp, Inc. (NASDAQ:HBNC) EVP Todd A. Etzler sold 590 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $17.99, for a total transaction of $10,614.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Horizon Bancorp Trading Down 0.9 %

Shares of HBNC stock opened at $17.93 on Friday. The business has a 50-day moving average price of $16.76 and a two-hundred day moving average price of $14.95. The firm has a market cap of $783.90 million, a P/E ratio of 38.15 and a beta of 1.05. Horizon Bancorp, Inc. has a 12-month low of $11.18 and a 12-month high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $58.23 million. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%. During the same period last year, the firm earned $0.37 earnings per share. Equities analysts anticipate that Horizon Bancorp, Inc. will post 1.4 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 3.57%. Horizon Bancorp’s dividend payout ratio is currently 136.17%.

Institutional Investors Weigh In On Horizon Bancorp

Several institutional investors have recently added to or reduced their stakes in HBNC. Dimensional Fund Advisors LP grew its position in shares of Horizon Bancorp by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after buying an additional 135,217 shares during the last quarter. Foundry Partners LLC lifted its stake in Horizon Bancorp by 46.0% in the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after acquiring an additional 57,240 shares during the period. Geode Capital Management LLC boosted its holdings in Horizon Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after acquiring an additional 52,423 shares in the last quarter. AQR Capital Management LLC increased its position in Horizon Bancorp by 11.9% during the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after purchasing an additional 50,666 shares during the period. Finally, Barclays PLC raised its holdings in Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 42,218 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HBNC shares. Keefe, Bruyette & Woods upped their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday. Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Horizon Bancorp has a consensus rating of “Hold” and a consensus target price of $16.75.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.