Horizon Bancorp (HBNC) Shares Down 2.9%
Shares of Horizon Bancorp (NASDAQ:HBNC) fell 2.9% during mid-day trading on Thursday . The stock traded as low as $26.42 and last traded at $26.50, with a volume of 75,138 shares changing hands. 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 report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Horizon Bancorp presently has an average rating of “Buy” and a consensus price target of $29.00.
The firm has a market cap of $318.15 million and a price-to-earnings ratio of 14.83. The company’s 50-day moving average is $25.26 and its 200 day moving average is $24.83.
Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by $0.08. Analysts predict that Horizon Bancorp will post $2.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 8th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, July 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.26%.
In other Horizon Bancorp news, EVP James D. Neff acquired 1,674 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was purchased at an average price of $24.67 per share, for a total transaction of $41,297.58. Following the acquisition, the executive vice president now owns 95,734 shares in the company, valued at approximately $2,361,757.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark E. Secor sold 3,000 shares of the firm’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 completion of the transaction, 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 position in Horizon Bancorp (NASDAQ:HBNC) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the SEC.
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.