BidaskClub downgraded shares of Horizon Bancorp (NASDAQ:HBNC) from a buy rating to a hold rating in a report issued on Thursday.
Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Horizon Bancorp from a buy rating to a hold rating in a research report on Tuesday, October 31st. Sandler O’Neill reaffirmed a hold rating and set a $29.50 price objective on shares of Horizon Bancorp in a report on Wednesday, January 3rd. ValuEngine raised shares of Horizon Bancorp from a hold rating to a buy rating in a report on Saturday, February 3rd. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $35.00 price objective on shares of Horizon Bancorp in a report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $30.88.
Shares of Horizon Bancorp (NASDAQ HBNC) opened at $29.77 on Thursday. Horizon Bancorp has a 52-week low of $24.41 and a 52-week high of $30.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $760.59, a price-to-earnings ratio of 20.67 and a beta of 1.05.
In other Horizon Bancorp news, Director Michele M. Thompson sold 10,000 shares of Horizon Bancorp stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $27.29, for a total transaction of $272,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark E. Secor sold 12,135 shares of Horizon Bancorp stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $27.11, for a total transaction of $328,979.85. Following the transaction, the chief financial officer now directly owns 4,648 shares in the company, valued at $126,007.28. The disclosure for this sale can be found here. Insiders have sold a total of 57,481 shares of company stock worth $1,564,423 over the last ninety days. Insiders own 5.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SWS Partners bought a new stake in shares of Horizon Bancorp during the 4th quarter worth $1,895,000. MetLife Investment Advisors LLC bought a new stake in shares of Horizon Bancorp during the 4th quarter worth $270,000. Millennium Management LLC raised its stake in shares of Horizon Bancorp by 216.8% during the 4th quarter. Millennium Management LLC now owns 25,632 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 17,541 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Horizon Bancorp by 12.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 88,740 shares of the financial services provider’s stock worth $2,467,000 after purchasing an additional 10,101 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Horizon Bancorp by 7.0% during the 4th quarter. California State Teachers Retirement System now owns 36,464 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 2,400 shares during the period. Institutional investors own 44.87% of the company’s stock.
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About Horizon Bancorp
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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