Horizon Bancorp (IN) (NASDAQ:HBNC) EVP Kathie Deruiter Sells 8,000 Shares of Stock

Horizon Bancorp (IN) (NASDAQ:HBNC) EVP Kathie Deruiter sold 8,000 shares of Horizon Bancorp (IN) stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.19, for a total transaction of $161,520.00. Following the completion of the transaction, the executive vice president owned 50,346 shares of the company’s stock, valued at $1,016,485.74. This trade represents a 13.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock opened at $20.67 on Thursday. The firm has a 50 day moving average of $19.50 and a two-hundred day moving average of $18.14. The stock has a market capitalization of $1.06 billion, a PE ratio of -6.54 and a beta of 0.82. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Horizon Bancorp has a 52 week low of $14.84 and a 52 week high of $21.04.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $76.56 million. Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.52%. On average, research analysts predict that Horizon Bancorp will post 2.08 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.25%.

Analyst Ratings Changes

HBNC has been the topic of several recent analyst reports. Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Tuesday. Stephens reaffirmed an “overweight” rating and set a $21.00 price target on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Weiss Ratings cut Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler reissued a “neutral” rating and set a $23.00 target price (up from $21.00) on shares of Horizon Bancorp (IN) in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.33.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several large investors have recently modified their holdings of HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Horizon Bancorp (IN) by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after buying an additional 1,057 shares during the last quarter. Empowered Funds LLC raised its position in Horizon Bancorp (IN) by 28.5% during the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 33,355 shares during the last quarter. Jane Street Group LLC purchased a new position in Horizon Bancorp (IN) during the 1st quarter worth $1,231,000. Rhumbline Advisers lifted its stake in shares of Horizon Bancorp (IN) by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 2,093 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Horizon Bancorp (IN) in the 2nd quarter worth $816,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.