Horizon Bancorp (NASDAQ:HBNC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 price objective on shares of Horizon Bancorp and gave the stock a “buy” rating in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $30.67.
Horizon Bancorp (HBNC) traded down $0.30 during trading hours on Thursday, hitting $27.11. 43,075 shares of the stock traded hands, compared to its average volume of 67,650. Horizon Bancorp has a twelve month low of $24.20 and a twelve month high of $29.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $690.83, a price-to-earnings ratio of 17.68 and a beta of 0.96.
In other Horizon Bancorp news, insider Thomas H. Edwards sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the transaction, the insider now owns 1,689 shares in the company, valued at approximately $43,914. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark E. Secor sold 12,135 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $27.11, for a total transaction of $328,979.85. Following the transaction, the chief financial officer now owns 4,648 shares in the company, valued at approximately $126,007.28. The disclosure for this sale can be found here. Insiders have sold a total of 69,046 shares of company stock worth $1,877,423 in the last 90 days. 5.40% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in HBNC. Legal & General Group Plc boosted its holdings in shares of Horizon Bancorp by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 662 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Horizon Bancorp in the 2nd quarter valued at $205,000. Goldman Sachs Group Inc. boosted its holdings in shares of Horizon Bancorp by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 519 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in shares of Horizon Bancorp by 29.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 11,500 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 2,600 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Horizon Bancorp by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 11,664 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 678 shares during the last quarter. 44.67% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.com-unik.info/2017/12/09/bidaskclub-upgrades-horizon-bancorp-hbnc-to-hold.html.
About Horizon Bancorp
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.
Receive News & Ratings for Horizon Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.