Horizon Bancorp (IN) (NASDAQ:HBNC) Director Michele Annette Samuels Buys 1,724 Shares

Key Points

• Michele Annette Samuels, a director at Horizon Bancorp, purchased 1,724 shares of the company's stock at an average cost of $14.50, increasing her ownership by 52.85%.
• The company reported earnings of $0.47 per share for the last quarter, exceeding the consensus estimate of $0.44, with a revenue of $66.27 million.
• Horizon Bancorp announced a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 4.1% and a payout ratio of 54.70%.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) Director Michele Annette Samuels acquired 1,724 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $14.50 per share, with a total value of $24,998.00. Following the transaction, the director owned 4,986 shares of the company's stock, valued at approximately $72,297. The trade was a 52.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Horizon Bancorp (IN) Trading Up 0.1%

Shares of NASDAQ:HBNC traded up $0.01 during trading on Monday, reaching $15.66. The stock had a trading volume of 994,870 shares, compared to its average volume of 196,310. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $19.18. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average price of $15.59 and a 200-day moving average price 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 issued its quarterly 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 net margin of 13.84% and a return on equity of 10.21%. The firm had revenue of $66.27 million during the quarter, compared to analyst estimates of $66.45 million. As a group, analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

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

Institutional Trading of Horizon Bancorp (IN)

Large investors have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new stake in shares of Horizon Bancorp (IN) in the 4th quarter worth about $51,000. Quarry LP increased its holdings in shares of Horizon Bancorp (IN) by 64.4% in the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock worth $56,000 after acquiring an additional 1,352 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Horizon Bancorp (IN) in the 4th quarter worth about $82,000. Tower Research Capital LLC TRC increased its holdings in shares of Horizon Bancorp (IN) by 160.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider's stock worth $101,000 after acquiring an additional 4,024 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Horizon Bancorp (IN) in the 2nd quarter worth about $134,000. Institutional investors and hedge funds own 64.51% of the company's stock.

Analyst Ratings Changes

HBNC has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Finally, Piper Sandler increased their target price on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Horizon Bancorp (IN) presently has a consensus rating of "Hold" and a consensus price target of $18.00.

About Horizon Bancorp (IN)

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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