Horizon Bancorp (NASDAQ:HBNC) declared a quarterly dividend on Friday, September 23rd. Stockholders of record on Friday, October 7th will be given a dividend of 0.15 per share by the financial services provider on Friday, October 21st. This represents a $0.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, October 5th.
Horizon Bancorp (NASDAQ:HBNC) opened at 28.85 on Tuesday. The stock has a 50 day moving average of $28.35 and a 200 day moving average of $25.96. Horizon Bancorp has a 12-month low of $21.92 and a 12-month high of $30.08. The stock has a market cap of $426.29 million, a P/E ratio of 15.77 and a beta of 0.49.
Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. Horizon Bancorp had a net margin of 17.13% and a return on equity of 9.48%. On average, equities research analysts anticipate that Horizon Bancorp will post $2.12 earnings per share for the current fiscal year.
HBNC has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $30.33.
In related news, insider Thomas H. Edwards sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $27.65, for a total value of $276,500.00. Following the transaction, the insider now owns 10,097 shares in the company, valued at approximately $279,182.05. The sale was disclosed in a filing with the SEC, which is available through this link. 7.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HBNC. Dimensional Fund Advisors LP increased its position in shares of Horizon Bancorp by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 301,627 shares of the financial services provider’s stock valued at $7,583,000 after buying an additional 28,008 shares during the period. Vanguard Group Inc. boosted its stake in shares of Horizon Bancorp by 3.1% in the second quarter. Vanguard Group Inc. now owns 277,801 shares of the financial services provider’s stock worth $6,984,000 after buying an additional 8,293 shares during the last quarter. State Street Corp boosted its stake in shares of Horizon Bancorp by 1.4% in the second quarter. State Street Corp now owns 145,460 shares of the financial services provider’s stock worth $3,659,000 after buying an additional 2,077 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Horizon Bancorp by 4.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 113,849 shares of the financial services provider’s stock worth $2,862,000 after buying an additional 4,587 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in shares of Horizon Bancorp by 12.6% in the second quarter. BlackRock Investment Management LLC now owns 49,706 shares of the financial services provider’s stock worth $1,250,000 after buying an additional 5,569 shares during the last quarter. Institutional investors own 36.09% of the company’s stock.
Horizon Bancorp Company Profile
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking.
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