BidaskClub lowered shares of Horizon Bancorp (NASDAQ:HBNC) from a sell rating to a strong sell rating in a report published on Thursday morning.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Horizon Bancorp from a sell rating to a hold rating and set a $24.00 price target on the stock in a research note on Wednesday, August 1st. ValuEngine raised shares of Horizon Bancorp from a hold rating to a buy rating in a research note on Saturday, May 26th. Finally, Stephens reaffirmed a buy rating and set a $24.00 price target on shares of Horizon Bancorp in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Horizon Bancorp currently has an average rating of Hold and an average price target of $22.50.

NASDAQ:HBNC opened at $20.35 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.99 and a current ratio of 0.99. Horizon Bancorp has a fifty-two week low of $16.67 and a fifty-two week high of $22.13. The firm has a market cap of $789.50 million, a PE ratio of 19.95 and a beta of 1.01.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. Horizon Bancorp had a net margin of 23.28% and a return on equity of 10.03%. The business had revenue of $42.48 million for the quarter, compared to analysts’ expectations of $42.33 million. equities research analysts expect that Horizon Bancorp will post 1.46 earnings per share for the current fiscal year.

In related news, insider Dennis Kuhn sold 5,841 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $20.72, for a total value of $121,025.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President James D. Neff sold 3,084 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $32.59, for a total transaction of $100,507.56. Following the completion of the sale, the president now owns 150,410 shares in the company, valued at $4,901,861.90. The disclosure for this sale can be found here. Insiders sold a total of 11,425 shares of company stock worth $273,258 over the last quarter. Insiders own 4.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in shares of Horizon Bancorp by 0.8% in the 1st quarter. Northern Trust Corp now owns 263,338 shares of the financial services provider’s stock worth $7,903,000 after buying an additional 2,008 shares in the last quarter. ClariVest Asset Management LLC boosted its position in shares of Horizon Bancorp by 3.7% in the 1st quarter. ClariVest Asset Management LLC now owns 59,013 shares of the financial services provider’s stock worth $1,771,000 after buying an additional 2,112 shares in the last quarter. Foundry Partners LLC boosted its position in shares of Horizon Bancorp by 0.9% in the 1st quarter. Foundry Partners LLC now owns 240,027 shares of the financial services provider’s stock worth $7,203,000 after buying an additional 2,125 shares in the last quarter. Tradition Capital Management LLC lifted its holdings in Horizon Bancorp by 4.5% in the 1st quarter. Tradition Capital Management LLC now owns 61,302 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. lifted its holdings in Horizon Bancorp by 5.9% in the 1st quarter. Thomson Horstmann & Bryant Inc. now owns 49,619 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 2,772 shares in the last quarter. Institutional investors and hedge funds own 52.77% 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 non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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