Bedel Financial Consulting Inc. Invests $240,000 in Horizon Bancorp (HBNC) Stock
Bedel Financial Consulting Inc. acquired a new position in Horizon Bancorp (NASDAQ:HBNC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,625 shares of the financial services provider’s stock, valued at approximately $240,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HBNC. Schwab Charles Investment Management Inc. boosted its holdings in Horizon Bancorp by 24.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 37,250 shares of the financial services provider’s stock worth $982,000 after buying an additional 7,400 shares during the period. Legal & General Group Plc boosted its holdings in Horizon Bancorp by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock worth $140,000 after buying an additional 662 shares during the period. Principal Financial Group Inc. bought a new position in Horizon Bancorp in the 2nd quarter worth approximately $205,000. Swiss National Bank boosted its holdings in Horizon Bancorp by 9.2% in the 2nd quarter. Swiss National Bank now owns 37,800 shares of the financial services provider’s stock worth $996,000 after buying an additional 3,200 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Horizon Bancorp by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 49,624 shares of the financial services provider’s stock worth $1,307,000 after buying an additional 189 shares during the period. 44.69% of the stock is owned by institutional investors.
In other Horizon Bancorp news, CEO Craig M. Dwight sold 19,440 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $27.19, for a total value of $528,573.60. Following the sale, the chief executive officer now directly owns 154,223 shares in the company, valued at approximately $4,193,323.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michele M. Thompson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $27.29, for a total transaction of $272,900.00. The disclosure for this sale can be found here. Insiders sold a total of 57,481 shares of company stock worth $1,564,423 over the last quarter. Corporate insiders own 5.40% of the company’s stock.
Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). Horizon Bancorp had a return on equity of 9.85% and a net margin of 20.49%. The firm had revenue of $40.80 million during the quarter, compared to analysts’ expectations of $40.73 million. equities analysts anticipate that Horizon Bancorp will post 2.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, January 5th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, January 4th. Horizon Bancorp’s dividend payout ratio is presently 36.11%.
Several research analysts recently commented on the stock. Sandler O’Neill reaffirmed a “hold” rating and issued a $29.50 price objective on shares of Horizon Bancorp in a report on Wednesday, January 3rd. BidaskClub raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Horizon Bancorp in a report on Monday, January 29th. Finally, Zacks Investment Research raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a report on Friday, December 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.88.
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Horizon Bancorp Company Profile
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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