Horizon Bancorp (HBNC) Trading Down 2.9%
Horizon Bancorp (NASDAQ:HBNC) fell 2.9% during trading on Thursday . The company traded as low as $26.42 and last traded at $26.50, with a volume of 75,138 shares. The stock had previously closed at $27.29.
Separately, Zacks Investment Research lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.00.
The stock’s 50 day moving average is $25.21 and its 200 day moving average is $24.83. The stock has a market capitalization of $317.55 million and a price-to-earnings ratio of 14.80.
Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Monday, April 25th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.08. Equities research analysts anticipate that Horizon Bancorp will post $2.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 8th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.26%.
In other news, CEO Craig M. Dwight sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $24.67, for a total transaction of $246,700.00. Following the completion of the sale, the chief executive officer now owns 106,070 shares in the company, valued at $2,616,746.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark E. Secor sold 3,000 shares of the business’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $24.39, for a total value of $73,170.00. Following the sale, the chief financial officer now owns 1,667 shares of the company’s stock, valued at approximately $40,658.13. 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 Horizon Bancorp (NASDAQ:HBNC) by 8.4% during the fourth quarter, according to its most recent disclosure with the SEC. 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 approximately 2.08% of Horizon Bancorp worth $6,928,000 at the end of the most recent reporting 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.