Horizon Bancorp Inc (NASDAQ:HBNC) President James D. Neff acquired 3,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average price of $16.25 per share, for a total transaction of $48,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

HBNC traded up $0.23 during trading on Friday, reaching $16.63. The stock had a trading volume of 4,276 shares, compared to its average volume of 63,764. The stock has a market cap of $624.63 million, a PE ratio of 16.19 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. Horizon Bancorp Inc has a one year low of $16.06 and a one year high of $22.13.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Monday, October 29th. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.06). The firm had revenue of $42.46 million during the quarter, compared to the consensus estimate of $43.43 million. Horizon Bancorp had a net margin of 24.49% and a return on equity of 10.28%. As a group, equities analysts anticipate that Horizon Bancorp Inc will post 1.4 earnings per share for the current year.

A number of brokerages recently issued reports on HBNC. Zacks Investment Research downgraded Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. BidaskClub downgraded Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. ValuEngine downgraded Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Finally, Raymond James lowered their price objective on Horizon Bancorp from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBNC. BlackRock Inc. increased its stake in Horizon Bancorp by 66.7% in the second quarter. BlackRock Inc. now owns 2,162,231 shares of the financial services provider’s stock valued at $44,735,000 after acquiring an additional 864,841 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Horizon Bancorp by 61.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,492 shares of the financial services provider’s stock valued at $30,197,000 after acquiring an additional 557,868 shares during the last quarter. Renaissance Technologies LLC increased its stake in Horizon Bancorp by 99.2% in the second quarter. Renaissance Technologies LLC now owns 935,110 shares of the financial services provider’s stock valued at $19,347,000 after acquiring an additional 465,769 shares during the last quarter. PL Capital Advisors LLC increased its stake in Horizon Bancorp by 50.0% in the second quarter. PL Capital Advisors LLC now owns 1,333,712 shares of the financial services provider’s stock valued at $27,595,000 after acquiring an additional 444,570 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Horizon Bancorp by 42.6% in the second quarter. Epoch Investment Partners Inc. now owns 1,107,627 shares of the financial services provider’s stock valued at $22,917,000 after acquiring an additional 330,742 shares during the last quarter. 53.17% of the stock is currently owned by institutional investors and hedge funds.

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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 non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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