Horizon Bancorp (NASDAQ:HBNC) Earns “Hold” Rating from Sandler O’Neill
Sandler O’Neill reaffirmed their hold rating on shares of Horizon Bancorp (NASDAQ:HBNC) in a research report released on Wednesday, January 3rd. They currently have a $29.50 target price on the financial services provider’s stock.
Several other research firms have also weighed in on HBNC. BidaskClub upgraded shares of Horizon Bancorp from a sell rating to a hold rating in a research note on Thursday, December 7th. Zacks Investment Research lowered shares of Horizon Bancorp from a hold rating to a sell rating in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies set a $32.00 target price on shares of Horizon Bancorp and gave the stock a buy rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Horizon Bancorp has an average rating of Buy and an average target price of $30.88.
Horizon Bancorp (HBNC) opened at $30.19 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.26. Horizon Bancorp has a twelve month low of $24.20 and a twelve month high of $30.45. The firm has a market capitalization of $766.47, a price-to-earnings ratio of 20.97 and a beta of 0.98.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, January 5th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, January 4th. Horizon Bancorp’s payout ratio is 36.11%.
In other news, Director Michele M. Thompson sold 10,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $27.29, for a total transaction of $272,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Craig M. Dwight sold 15,365 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $27.42, for a total transaction of $421,308.30. Following the transaction, the chief executive officer now owns 150,625 shares in the company, valued at approximately $4,130,137.50. The disclosure for this sale can be found here. Insiders have sold 76,046 shares of company stock valued at $2,072,323 over the last 90 days. 5.40% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in HBNC. Thrivent Financial For Lutherans acquired a new position in shares of Horizon Bancorp during the 2nd quarter worth $3,951,000. Comerica Bank grew its stake in Horizon Bancorp by 576.9% in the 3rd quarter. Comerica Bank now owns 156,531 shares of the financial services provider’s stock valued at $4,267,000 after buying an additional 133,406 shares during the last quarter. Rothschild Asset Management Inc. acquired a new position in Horizon Bancorp in the 3rd quarter valued at $2,921,000. State Street Corp grew its stake in Horizon Bancorp by 28.1% in the 2nd quarter. State Street Corp now owns 419,067 shares of the financial services provider’s stock valued at $11,043,000 after buying an additional 91,901 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Horizon Bancorp by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 923,226 shares of the financial services provider’s stock valued at $24,326,000 after buying an additional 66,713 shares during the last quarter. Institutional investors own 44.74% of the company’s stock.
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About Horizon Bancorp
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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