Horizon Bancorp (IN) (NASDAQ:HBNC) CFO John Stewart Purchases 1,724 Shares

Key Points

• Horizon Bancorp CFO John Stewart purchased 1,724 shares at $14.50 each, increasing his ownership by 2.21% to a total of 79,745 shares valued at approximately $1.16 million.
• The recent earnings report showed a Q2 EPS of $0.47, exceeding expectations of $0.44, with revenue slightly below forecasts at $66.27 million.
• A quarterly dividend of $0.16 per share was recently paid, yielding 4.1%, with a current dividend payout ratio of 54.70%.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) CFO John Stewart bought 1,724 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average cost of $14.50 per share, with a total value of $24,998.00. Following the purchase, the chief financial officer directly owned 79,745 shares of the company's stock, valued at $1,156,302.50. The trade was a 2.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Horizon Bancorp (IN) Trading Up 0.1%

NASDAQ HBNC traded up $0.01 during mid-day trading on Monday, reaching $15.66. 994,870 shares of the stock were exchanged, compared to its average volume of 196,310. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $15.59 and a 200-day simple moving average of $15.37. The stock has a market cap of $690.61 million, a P/E ratio of 13.38 and a beta of 0.87.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. Horizon Bancorp (IN) had a return on equity of 10.21% and a net margin of 13.84%.The business had revenue of $66.27 million during the quarter, compared to analysts' expectations of $66.45 million. On average, analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, July 3rd. Horizon Bancorp (IN)'s dividend payout ratio (DPR) is currently 54.70%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HBNC shares. Wall Street Zen cut shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Finally, Piper Sandler raised their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Horizon Bancorp (IN) presently has an average rating of "Hold" and a consensus price target of $18.00.

Institutional Trading of Horizon Bancorp (IN)

Several institutional investors have recently added to or reduced their stakes in HBNC. Aquatic Capital Management LLC purchased a new stake in Horizon Bancorp (IN) during the 4th quarter valued at $51,000. Quarry LP boosted its stake in Horizon Bancorp (IN) by 64.4% during the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,352 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Horizon Bancorp (IN) during the 4th quarter valued at $82,000. Tower Research Capital LLC TRC lifted its holdings in shares of Horizon Bancorp (IN) by 160.2% during the 2nd 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 during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Horizon Bancorp (IN) during the 2nd quarter valued at $134,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.

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