Horizon Bancorp (IN) (NASDAQ:HBNC) has been assigned a $32.00 price target by stock analysts at Piper Jaffray Companies in a report issued on Friday. The firm presently has a “buy” rating on the financial services provider’s stock. Piper Jaffray Companies’ target price points to a potential upside of 12.48% from the stock’s current price.

Separately, Zacks Investment Research lowered Horizon Bancorp (IN) from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.75.

Shares of Horizon Bancorp (NASDAQ:HBNC) opened at 28.45 on Friday. The firm has a market cap of $630.91 million, a P/E ratio of 21.41 and a beta of 1.00. The stock’s 50 day moving average is $26.79 and its 200-day moving average is $26.27. Horizon Bancorp has a 52-week low of $17.70 and a 52-week high of $29.25.

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In other news, insider James D. Neff sold 4,799 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $26.75, for a total transaction of $128,373.25. Following the completion of the transaction, the insider now directly owns 147,176 shares in the company, valued at $3,936,958. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas H. Edwards sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the insider now owns 1,689 shares of the company’s stock, valued at $43,914. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,254 shares of company stock valued at $713,536. Corporate insiders own 5.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of Horizon Bancorp (IN) by 14.2% in the second quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 662 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Horizon Bancorp (IN) in the second quarter valued at $205,000. Goldman Sachs Group Inc. raised its stake in shares of Horizon Bancorp (IN) by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 519 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Horizon Bancorp (IN) in the first quarter valued at $233,000. Finally, Trexquant Investment LP acquired a new position in shares of Horizon Bancorp (IN) in the first quarter valued at $255,000. Institutional investors and hedge funds own 45.13% of the company’s stock.

About Horizon Bancorp (IN)

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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