Insider Buying: Horizon Bancorp Inc (HBNC) Director Acquires $18,711.00 in Stock

Horizon Bancorp Inc (NASDAQ:HBNC) Director Steven William Reed acquired 1,100 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average price of $17.01 per share, with a total value of $18,711.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of HBNC stock traded up $0.23 on Friday, hitting $16.99. The stock had a trading volume of 2,094 shares, compared to its average volume of 66,353. 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 company has a market capitalization of $643.05 million, a P/E ratio of 16.67 and a beta of 1.13. Horizon Bancorp Inc has a one year low of $16.36 and a one year high of $22.13.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.06). The firm had revenue of $42.46 million during the quarter, compared to the consensus estimate of $43.43 million. Horizon Bancorp had a net margin of 24.49% and a return on equity of 10.28%. On average, analysts anticipate that Horizon Bancorp Inc will post 1.4 earnings per share for the current fiscal year.

HBNC has been the subject of several recent research reports. BidaskClub downgraded Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Raymond James decreased 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 downgraded Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Stephens restated a “buy” rating and issued a $24.00 price objective on shares of Horizon Bancorp in a report on Friday, July 27th. Finally, ValuEngine downgraded Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Horizon Bancorp by 1.6% in the third quarter. BlackRock Inc. now owns 2,196,292 shares of the financial services provider’s stock worth $43,377,000 after purchasing an additional 34,061 shares in the last quarter. Advisory Research Inc. raised its holdings in Horizon Bancorp by 8.0% in the third quarter. Advisory Research Inc. now owns 1,681,565 shares of the financial services provider’s stock worth $33,211,000 after purchasing an additional 125,268 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Horizon Bancorp by 3.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,666,075 shares of the financial services provider’s stock worth $32,905,000 after purchasing an additional 62,845 shares in the last quarter. Vanguard Group Inc. raised its holdings in Horizon Bancorp by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,649,159 shares of the financial services provider’s stock worth $32,571,000 after purchasing an additional 20,129 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Horizon Bancorp by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,561,257 shares of the financial services provider’s stock worth $30,835,000 after purchasing an additional 101,765 shares in the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.

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About Horizon Bancorp

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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Insider Buying and Selling by Quarter for Horizon Bancorp (NASDAQ:HBNC)

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