ValuEngine upgraded shares of Horizon Bancorp (NASDAQ:HBNC) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday, ValuEngine reports.

A number of other research analysts have also issued reports on the company. BidaskClub lowered Horizon Bancorp from a sell rating to a strong sell rating in a report on Thursday, January 16th. Zacks Investment Research lowered Horizon Bancorp from a hold rating to a sell rating in a report on Monday, January 13th.

HBNC traded up $0.02 during trading on Tuesday, hitting $18.08. 929 shares of the stock were exchanged, compared to its average volume of 61,009. The firm has a market capitalization of $811.70 million, a P/E ratio of 12.46 and a beta of 1.00. Horizon Bancorp has a 1-year low of $15.21 and a 1-year high of $19.48. The stock has a fifty day moving average price of $18.81 and a two-hundred day moving average price of $17.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.89.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $54.98 million for the quarter, compared to analyst estimates of $53.55 million. Horizon Bancorp had a return on equity of 10.74% and a net margin of 25.66%. Analysts predict that Horizon Bancorp will post 1.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a $0.12 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.65%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 37.80%.

In other Horizon Bancorp news, EVP Mark E. Secor sold 10,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.77, for a total transaction of $187,700.00. Following the sale, the executive vice president now directly owns 2,464 shares in the company, valued at $46,249.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michele M. Magnuson sold 18,138 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $18.50, for a total value of $335,553.00. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its position in Horizon Bancorp by 788.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 40,324 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 35,785 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Horizon Bancorp by 1.2% in the third quarter. California State Teachers Retirement System now owns 58,160 shares of the financial services provider’s stock worth $1,010,000 after acquiring an additional 695 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Horizon Bancorp by 2.5% in the third quarter. Stifel Financial Corp now owns 136,955 shares of the financial services provider’s stock worth $2,378,000 after acquiring an additional 3,398 shares during the last quarter. State Street Corp raised its holdings in shares of Horizon Bancorp by 3.1% in the third quarter. State Street Corp now owns 841,184 shares of the financial services provider’s stock worth $14,603,000 after acquiring an additional 24,898 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Horizon Bancorp by 3,405.6% in the third quarter. Russell Investments Group Ltd. now owns 24,539 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 23,839 shares during the last quarter. Institutional investors own 47.46% of the company’s stock.

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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