Somewhat Favorable News Coverage Somewhat Unlikely to Impact Horizon Bancorp (IN) (HBNC) Stock Price
News coverage about Horizon Bancorp (IN) (NASDAQ:HBNC) has been trending somewhat positive on Saturday, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Horizon Bancorp (IN) earned a news sentiment score of 0.08 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 45.9803570319883 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Shares of Horizon Bancorp (HBNC) traded up $0.08 during trading hours on Friday, hitting $26.67. 57,647 shares of the stock traded hands, compared to its average volume of 66,584. Horizon Bancorp has a 52 week low of $21.90 and a 52 week high of $29.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $679.62, a P/E ratio of 17.18 and a beta of 0.98.
Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). Horizon Bancorp (IN) had a net margin of 20.03% and a return on equity of 9.58%. The firm had revenue of $35.90 million during the quarter, compared to analyst estimates of $37.81 million. equities research analysts predict that Horizon Bancorp will post 1.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. Horizon Bancorp (IN)’s dividend payout ratio is presently 37.41%.
A number of research firms have weighed in on HBNC. Zacks Investment Research downgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 price target on shares of Horizon Bancorp (IN) and gave the stock a “buy” rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $29.75.
In other news, insider James D. Neff sold 6,643 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $26.05, for a total value of $173,050.15. Following the sale, the insider now owns 147,176 shares in the company, valued at approximately $3,833,934.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James D. Neff sold 1,800 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $26.25, for a total transaction of $47,250.00. Following the completion of the sale, the insider now owns 147,176 shares in the company, valued at approximately $3,863,370. The disclosure for this sale can be found here. Insiders sold a total of 41,020 shares of company stock worth $1,093,063 in the last 90 days. 5.40% of the stock is owned by corporate insiders.
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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