Horizon Bancorp (IN) (NASDAQ:HBNC) insider James D. Neff sold 4,799 shares of Horizon Bancorp (IN) stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $26.75, for a total transaction of $128,373.25. Following the transaction, the insider now directly owns 147,176 shares of the company’s stock, valued at $3,936,958. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Horizon Bancorp (NASDAQ:HBNC) traded down 0.81% during midday trading on Thursday, reaching $25.86. 72,268 shares of the company were exchanged. The company has a market capitalization of $573.47 million, a price-to-earnings ratio of 19.46 and a beta of 0.98. The company has a 50 day moving average of $26.33 and a 200-day moving average of $26.09. Horizon Bancorp has a 52-week low of $17.70 and a 52-week high of $28.63.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were given a $0.13 dividend. This is a boost from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.52 annualized dividend and a yield of 2.01%. Horizon Bancorp (IN)’s dividend payout ratio is presently 39.10%.

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Several equities analysts have recently weighed in on HBNC shares. Zacks Investment Research raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, July 3rd. ValuEngine raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $29.00 price target on shares of Horizon Bancorp (IN) in a research note on Wednesday, April 26th. Finally, Piper Jaffray Companies set a $32.00 price target on shares of Horizon Bancorp (IN) and gave the company a “buy” rating in a research note on Saturday, July 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.50.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its position in Horizon Bancorp (IN) by 3.3% in the second quarter. Nationwide Fund Advisors now owns 14,031 shares of the financial services provider’s stock valued at $370,000 after buying an additional 449 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Horizon Bancorp (IN) by 20.2% in the second quarter. TIAA CREF Investment Management LLC now owns 75,475 shares of the financial services provider’s stock valued at $1,989,000 after buying an additional 12,658 shares during the last quarter. Teachers Advisors LLC boosted its position in Horizon Bancorp (IN) by 20.0% in the second quarter. Teachers Advisors LLC now owns 38,115 shares of the financial services provider’s stock valued at $1,004,000 after buying an additional 6,345 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Horizon Bancorp (IN) during the second quarter valued at about $383,000. Finally, Wells Fargo & Company MN boosted its position in Horizon Bancorp (IN) by 0.4% in the second quarter. Wells Fargo & Company MN now owns 49,624 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 44.09% of the company’s stock.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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