Kathie Deruiter Sells 8,000 Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) Stock

Horizon Bancorp (IN) (NASDAQ:HBNC) EVP Kathie Deruiter sold 8,000 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $20.19, for a total value of $161,520.00. Following the transaction, the executive vice president owned 50,346 shares in the company, valued at $1,016,485.74. This trade represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Horizon Bancorp (IN) Trading Down 0.2%

HBNC traded down $0.05 during midday trading on Wednesday, hitting $20.66. The company’s stock had a trading volume of 975,246 shares, compared to its average volume of 463,870. Horizon Bancorp has a 52-week low of $14.84 and a 52-week high of $21.04. The firm has a 50-day moving average price of $19.45 and a two-hundred day moving average price of $18.11. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.06 billion, a P/E ratio of -6.54 and a beta of 0.82.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Horizon Bancorp (IN) had a positive return on equity of 13.52% and a negative net margin of 36.38%.The company had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $76.56 million. On average, research analysts anticipate that Horizon Bancorp will post 2.08 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.25%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HBNC shares. Stephens restated an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their target price on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings lowered Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Piper Sandler restated a “neutral” rating and issued a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday, July 24th. Finally, Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.33.

Hedge Funds Weigh In On Horizon Bancorp (IN)

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in Horizon Bancorp (IN) by 65.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 660 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Horizon Bancorp (IN) by 93.5% during the first quarter. Royal Bank of Canada now owns 2,873 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,388 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Horizon Bancorp (IN) by 160.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 4,024 shares during the period. Rossby Financial LCC purchased a new position in shares of Horizon Bancorp (IN) in the fourth quarter valued at $124,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Horizon Bancorp (IN) in the second quarter valued at $134,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.