Horizon Bancorp (IN) (NASDAQ:HBNC) – Analysts at FIG Partners reduced their Q4 2017 EPS estimates for Horizon Bancorp (IN) in a research note issued to investors on Monday. FIG Partners analyst B. Martin now anticipates that the financial services provider will post earnings per share of $0.44 for the quarter, down from their previous forecast of $0.46. FIG Partners also issued estimates for Horizon Bancorp (IN)’s Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $1.90 EPS.

A number of other equities analysts have also commented on the company. Zacks Investment Research upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Monday, July 3rd. Piper Jaffray Companies set a $32.00 price objective on Horizon Bancorp (IN) and gave the stock a “buy” rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.75.

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Shares of Horizon Bancorp (NASDAQ HBNC) opened at 27.26 on Tuesday. The company has a market capitalization of $604.52 million, a PE ratio of 20.51 and a beta of 0.99. Horizon Bancorp has a 12 month low of $18.33 and a 12 month high of $29.25. The firm has a 50-day moving average price of $28.04 and a 200-day moving average price of $26.63.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Horizon Bancorp (IN) had a net margin of 20.03% and a return on equity of 9.88%. The company had revenue of $35.90 million during the quarter, compared to the consensus estimate of $37.81 million.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were paid a $0.13 dividend. The ex-dividend date was Thursday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. Horizon Bancorp (IN)’s payout ratio is 37.41%.

In other news, insider James D. Neff sold 4,799 shares of Horizon Bancorp (IN) stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $26.75, for a total value of $128,373.25. Following the transaction, the insider now owns 147,176 shares in the company, valued at approximately $3,936,958. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James D. Neff sold 6,643 shares of Horizon Bancorp (IN) stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $26.05, for a total value of $173,050.15. Following the completion of the transaction, the insider now owns 147,176 shares in the company, valued at approximately $3,833,934.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,254 shares of company stock worth $713,536. Corporate insiders own 5.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of HBNC. Bank of New York Mellon Corp increased its stake in shares of Horizon Bancorp (IN) by 9.8% in the 1st quarter. Bank of New York Mellon Corp now owns 130,669 shares of the financial services provider’s stock valued at $3,427,000 after purchasing an additional 11,700 shares during the last quarter. American International Group Inc. increased its stake in shares of Horizon Bancorp (IN) by 21.3% in the 1st quarter. American International Group Inc. now owns 11,747 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 2,065 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Horizon Bancorp (IN) by 3.1% in the 1st quarter. Teachers Advisors LLC now owns 31,770 shares of the financial services provider’s stock valued at $833,000 after purchasing an additional 951 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Horizon Bancorp (IN) by 10.2% in the 1st quarter. California Public Employees Retirement System now owns 50,767 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Horizon Bancorp (IN) by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 856,513 shares of the financial services provider’s stock valued at $22,457,000 after purchasing an additional 21,429 shares during the last quarter. Institutional investors own 40.74% of the company’s stock.

About Horizon Bancorp (IN)

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.

Earnings History and Estimates for Horizon Bancorp (IN) (NASDAQ:HBNC)

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