Horizon Bancorp (HBNC) Trading Up 4.3%
Horizon Bancorp (NASDAQ:HBNC) traded up 4.3% during mid-day trading on Monday . The company 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.
Separately, Zacks Investment Research raised Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Horizon Bancorp presently has a consensus rating of “Buy” and an average target price of $29.00.
The company has a 50 day moving average of $25.09 and a 200 day moving average of $24.80. The firm has a market capitalization of $326.42 million and a price-to-earnings ratio of 15.22.
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 consensus estimate of $0.52 by $0.08. Equities analysts expect that Horizon Bancorp will post $2.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 22nd. Shareholders of record on Friday, July 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Wednesday, July 6th.
In related news, CEO Craig M. Dwight sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $24.67, for a total value of $246,700.00. Following the completion of the sale, the chief executive officer now owns 106,070 shares in the company, valued at approximately $2,616,746.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas H. Edwards sold 2,000 shares of the company’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $24.00, for a total transaction of $48,000.00. Following the completion of the sale, the executive vice president now owns 30,097 shares of the company’s stock, valued at approximately $722,328. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Horizon Bancorp stock. Dimensional Fund Advisors LP boosted its stake in shares of Horizon Bancorp (NASDAQ:HBNC) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,776 shares of the financial services provider’s stock after buying an additional 19,143 shares during the period. Dimensional Fund Advisors LP owned 2.08% of Horizon Bancorp worth $6,928,000 at the end of the most recent quarter.
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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