Horizon Bancorp (IN) (NASDAQ:HBNC) CFO Purchases $24,998.00 in Stock

Horizon Bancorp (IN) (NASDAQ:HBNC) CFO John Stewart acquired 1,724 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $14.50 per share, for a total transaction of $24,998.00. Following the purchase, the chief financial officer directly owned 79,745 shares of the company’s stock, valued at approximately $1,156,302.50. This trade represents a 2.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Horizon Bancorp (IN) Stock Performance

HBNC opened at $16.35 on Wednesday. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $19.18. The company has a market capitalization of $721.00 million, a price-to-earnings ratio of 13.97 and a beta of 0.87. The business has a 50 day moving average price of $15.64 and a two-hundred day moving average price of $15.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.76 and a quick ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. The business had revenue of $66.27 million during the quarter, compared to analyst estimates of $66.45 million. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.21%. Research analysts predict that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 3rd. Horizon Bancorp (IN)’s payout ratio is presently 54.70%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Several institutional investors have recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Horizon Bancorp (IN) during the fourth quarter worth about $51,000. Quarry LP boosted its holdings in shares of Horizon Bancorp (IN) by 64.4% in the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,352 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Horizon Bancorp (IN) in the 4th quarter worth approximately $82,000. Tower Research Capital LLC TRC grew its position in Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 4,024 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Horizon Bancorp (IN) during the 2nd quarter valued at $134,000. 64.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HBNC. Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and upped their price target for the company from $18.00 to $19.00 in a report on Tuesday. Wall Street Zen cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Piper Sandler raised their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Horizon Bancorp (IN) presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.