Kathie Deruiter Sells 8,000 Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) Stock

Horizon Bancorp (IN) (NASDAQ:HBNC) EVP Kathie Deruiter sold 8,000 shares of Horizon Bancorp (IN) stock in a transaction on Monday, July 27th. The shares were sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the sale, the executive vice president directly owned 50,346 shares of the company’s stock, valued at approximately $1,016,485.74. This represents a 13.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Horizon Bancorp (IN) Stock Performance

NASDAQ HBNC opened at $20.58 on Friday. The business’s 50-day moving average price is $19.54 and its 200 day moving average price is $18.16. Horizon Bancorp has a twelve month low of $14.84 and a twelve month high of $21.04. The company has a market capitalization of $1.06 billion, a PE ratio of -6.51 and a beta of 0.82. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The business had revenue of $75.50 million during the quarter, compared to analyst estimates of $76.56 million. Horizon Bancorp (IN) had a positive return on equity of 13.52% and a negative net margin of 36.38%. On average, research analysts predict that Horizon Bancorp will post 2.08 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, July 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.25%.

Institutional Trading of Horizon Bancorp (IN)

A number of institutional investors have recently modified their holdings of HBNC. EverSource Wealth Advisors LLC increased its position in Horizon Bancorp (IN) by 65.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares in the last quarter. Royal Bank of Canada lifted its position in Horizon Bancorp (IN) by 93.5% during the first quarter. Royal Bank of Canada now owns 2,873 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,388 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Horizon Bancorp (IN) by 160.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after buying an additional 4,024 shares in the last quarter. Rossby Financial LCC acquired a new position in Horizon Bancorp (IN) during the fourth quarter valued at approximately $124,000. Finally, Raymond James Financial Inc. purchased a new stake in Horizon Bancorp (IN) during the second quarter worth approximately $134,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Ratings Changes

HBNC has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Stephens reissued an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Finally, Piper Sandler restated a “neutral” rating and set a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.33.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.