Horizon Bancorp (HBNC) Trading Up 4.3%
Horizon Bancorp (NASDAQ:HBNC) shares were up 4.3% during trading on Monday . The stock traded as high as $27.44 and last traded at $27.44, with a volume of 59,168 shares trading hands. The stock had previously closed at $26.31.
Several research analysts recently commented on HBNC shares. Keefe, Bruyette & Woods increased their price target on Horizon Bancorp from $29.00 to $31.00 in a research report on Monday, March 21st. Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, March 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $29.00.
The stock’s 50 day moving average is $25.02 and its 200-day moving average is $24.78. The firm has a market cap of $330.01 million and a PE ratio of 15.39.
Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.08. Equities research analysts forecast that Horizon Bancorp will post $2.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 8th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Wednesday, July 6th.
In other Horizon Bancorp news, EVP James D. Neff acquired 1,674 shares of the stock in a transaction dated Monday, May 2nd. The stock was purchased at an average cost of $24.67 per share, with a total value of $41,297.58. Following the transaction, the executive vice president now owns 95,734 shares in the company, valued at approximately $2,361,757.78. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas H. Edwards sold 2,000 shares of Horizon Bancorp stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $24.00, for a total value of $48,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,097 shares of the company’s stock, valued at $722,328. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of the company. Tradition Capital Management LLC raised its position in Horizon Bancorp by 3.1% in the fourth quarter. Tradition Capital Management LLC now owns 89,739 shares of the financial services provider’s stock valued at $2,509,000 after buying an additional 2,700 shares during the period. LSV Asset Management raised its position in Horizon Bancorp by 0.8% in the fourth quarter. LSV Asset Management now owns 175,868 shares of the financial services provider’s stock valued at $4,917,000 after buying an additional 1,480 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Horizon Bancorp by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 247,776 shares of the financial services provider’s stock valued at $6,928,000 after buying an additional 19,143 shares during the period.
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking.
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