Horizon Bancorp Inc (NASDAQ:HBNC) President James D. Neff Purchases 800 Shares

Horizon Bancorp Inc (NASDAQ:HBNC) President James D. Neff purchased 800 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $15.73 per share, with a total value of $12,584.00. Following the completion of the acquisition, the president now directly owns 253,954 shares of the company’s stock, valued at $3,994,696.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ HBNC opened at $16.34 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average of $16.05. Horizon Bancorp Inc has a twelve month low of $14.79 and a twelve month high of $21.60. The company has a market capitalization of $736.17 million, a PE ratio of 12.01 and a beta of 0.97.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Horizon Bancorp had a net margin of 24.71% and a return on equity of 10.18%. The business had revenue of $42.99 million during the quarter, compared to analysts’ expectations of $41.93 million. On average, sell-side analysts predict that Horizon Bancorp Inc will post 1.52 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, July 3rd. This is a boost from Horizon Bancorp’s previous quarterly dividend of $0.10. Horizon Bancorp’s dividend payout ratio (DPR) is presently 31.50%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBNC. Dimensional Fund Advisors LP lifted its stake in shares of Horizon Bancorp by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,659,383 shares of the financial services provider’s stock valued at $26,185,000 after buying an additional 98,126 shares during the period. BlackRock Inc. lifted its stake in shares of Horizon Bancorp by 3.1% in the fourth quarter. BlackRock Inc. now owns 2,264,359 shares of the financial services provider’s stock valued at $35,732,000 after buying an additional 68,067 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Horizon Bancorp by 20.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 264,715 shares of the financial services provider’s stock valued at $4,259,000 after buying an additional 45,043 shares during the period. Tradition Capital Management LLC raised its position in Horizon Bancorp by 44.2% in the first quarter. Tradition Capital Management LLC now owns 143,954 shares of the financial services provider’s stock worth $2,316,000 after purchasing an additional 44,118 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Horizon Bancorp by 49.6% in the first quarter. California Public Employees Retirement System now owns 88,314 shares of the financial services provider’s stock worth $1,421,000 after purchasing an additional 29,263 shares in the last quarter. Institutional investors and hedge funds own 46.10% of the company’s stock.

A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. ValuEngine cut shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, March 15th. Finally, Zacks Investment Research upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Horizon Bancorp currently has an average rating of “Hold” and a consensus price target of $21.00.

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 demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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