Horizon Bancorp (NASDAQ:HBNC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 price target on shares of Horizon Bancorp and gave the stock a “buy” rating in a research note on Friday, October 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.67.

Horizon Bancorp (NASDAQ:HBNC) traded down $0.30 during trading hours on Thursday, reaching $27.11. 43,075 shares of the company’s stock were exchanged, compared to its average volume of 67,650. The company has a market cap of $690.83, a price-to-earnings ratio of 17.68 and a beta of 0.96. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.96 and a current ratio of 0.96. Horizon Bancorp has a 1-year low of $24.20 and a 1-year high of $29.25.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Horizon Bancorp had a return on equity of 9.58% and a net margin of 20.03%. The company had revenue of $35.90 million during the quarter, compared to the consensus estimate of $37.81 million. sell-side analysts anticipate that Horizon Bancorp will post 1.64 EPS for the current fiscal year.

In related news, CFO Mark E. Secor sold 12,135 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $27.11, for a total value of $328,979.85. Following the transaction, the chief financial officer now owns 4,648 shares of the company’s stock, valued at $126,007.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig M. Dwight sold 15,365 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $27.42, for a total transaction of $421,308.30. Following the completion of the transaction, the chief executive officer now directly owns 150,625 shares in the company, valued at approximately $4,130,137.50. The disclosure for this sale can be found here. Insiders sold 69,046 shares of company stock valued at $1,877,423 over the last quarter. Company insiders own 5.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in shares of Horizon Bancorp by 14.2% in the second quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock worth $140,000 after buying an additional 662 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Horizon Bancorp during the second quarter valued at approximately $205,000. Goldman Sachs Group Inc. lifted its holdings in Horizon Bancorp by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 519 shares in the last quarter. Virginia Retirement Systems ET AL lifted its holdings in Horizon Bancorp by 29.2% during the second quarter. Virginia Retirement Systems ET AL now owns 11,500 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Horizon Bancorp by 6.2% during the second quarter. American Century Companies Inc. now owns 11,664 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 678 shares in the last quarter. 44.67% of the stock is currently owned by institutional investors.

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Horizon Bancorp Company Profile

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.

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