Insider Buying: Horizon Bancorp Inc (HBNC) President Acquires 3,000 Shares of Stock

Horizon Bancorp Inc (NASDAQ:HBNC) President James D. Neff bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average cost of $16.25 per share, for a total transaction of $48,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Horizon Bancorp stock traded up $0.01 during trading hours on Friday, hitting $16.41. 115,470 shares of the stock traded hands, compared to its average volume of 65,368. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $629.23 million, a price-to-earnings ratio of 16.09 and a beta of 1.11. Horizon Bancorp Inc has a one year low of $16.06 and a one year high of $22.13.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.06). The firm had revenue of $42.46 million for the quarter, compared to the consensus estimate of $43.43 million. Horizon Bancorp had a net margin of 24.49% and a return on equity of 10.28%. On average, analysts predict that Horizon Bancorp Inc will post 1.4 earnings per share for the current year.

Several research firms recently issued reports on HBNC. ValuEngine cut Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research cut Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 3rd. BidaskClub cut Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Finally, Raymond James cut their target price on Horizon Bancorp from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Horizon Bancorp during the 2nd quarter valued at approximately $187,000. Russell Investments Group Ltd. boosted its position in Horizon Bancorp by 50.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,833 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 3,278 shares in the last quarter. AMI Investment Management Inc. bought a new stake in Horizon Bancorp during the 2nd quarter valued at approximately $223,000. Metropolitan Life Insurance Co. NY boosted its position in Horizon Bancorp by 50.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,660 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 3,887 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Horizon Bancorp by 50.0% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 11,895 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 3,965 shares in the last quarter. 53.17% of the stock is currently owned by institutional investors and hedge funds.

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About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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