Horizon Bancorp, Inc. (NASDAQ:HBNC) EVP Todd A. Etzler Sells 590 Shares

Horizon Bancorp, Inc. (NASDAQ:HBNC) EVP Todd A. Etzler sold 590 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $17.99, for a total transaction of $10,614.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Horizon Bancorp Price Performance

Shares of NASDAQ HBNC opened at $18.10 on Friday. The firm has a market cap of $791.24 million, a PE ratio of 38.51 and a beta of 1.05. The business has a 50 day moving average price of $16.70 and a two-hundred day moving average price of $14.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same quarter last year, the firm posted $0.37 EPS. Sell-side analysts expect that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Friday, October 4th. Horizon Bancorp’s dividend payout ratio is presently 136.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HBNC. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday. Hovde Group initiated coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.75.

Hedge Funds Weigh In On Horizon Bancorp

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new stake in shares of Horizon Bancorp in the 2nd quarter valued at approximately $432,000. Foundry Partners LLC boosted its stake in shares of Horizon Bancorp by 67.6% during the 2nd quarter. Foundry Partners LLC now owns 124,360 shares of the financial services provider’s stock worth $1,538,000 after acquiring an additional 50,143 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Horizon Bancorp by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,749 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Horizon Bancorp by 11.9% in the second quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after acquiring an additional 50,666 shares during the period. Finally, Creative Planning grew its position in Horizon Bancorp by 8.1% during the third quarter. Creative Planning now owns 55,679 shares of the financial services provider’s stock worth $866,000 after buying an additional 4,155 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp 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.