Horizon Bancorp (NASDAQ:HBNC) Sets New 52-Week High at $19.31

Horizon Bancorp Inc (NASDAQ:HBNC)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $19.31 and last traded at $19.22, with a volume of 602 shares. The stock had previously closed at $18.95.

HBNC has been the subject of a number of recent research reports. ValuEngine downgraded shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. BidaskClub downgraded shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Zacks Investment Research upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average price is $18.65 and its 200 day moving average price is $17.06. The company has a market capitalization of $858.93 million, a price-to-earnings ratio of 15.04 and a beta of 1.00.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.04. The company had revenue of $54.98 million for the quarter, compared to analysts’ expectations of $53.55 million. Horizon Bancorp had a net margin of 25.66% and a return on equity of 10.74%. On average, research analysts expect that Horizon Bancorp Inc will post 1.64 earnings per share for the current year.

In other news, Director Michele M. Magnuson sold 18,138 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $18.50, for a total value of $335,553.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark E. Secor sold 10,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.77, for a total transaction of $187,700.00. Following the completion of the sale, the executive vice president now directly owns 2,464 shares in the company, valued at $46,249.28. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of HBNC. Marshall Wace LLP bought a new stake in shares of Horizon Bancorp in the 1st quarter valued at about $26,000. Swiss National Bank raised its holdings in Horizon Bancorp by 2.1% in the 2nd quarter. Swiss National Bank now owns 67,850 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 1,400 shares during the period. Gamco Investors INC. ET AL bought a new position in Horizon Bancorp in the 2nd quarter valued at about $163,000. Meeder Asset Management Inc. raised its holdings in Horizon Bancorp by 277.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,905 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,400 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Horizon Bancorp by 13.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,252 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 1,218 shares during the period. 47.56% of the stock is currently owned by institutional investors.

Horizon Bancorp Company Profile (NASDAQ:HBNC)

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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