Mark E. Secor Sells 12,135 Shares of Horizon Bancorp (IN) (HBNC) Stock

Horizon Bancorp (IN) (NASDAQ:HBNC) CFO Mark E. Secor sold 12,135 shares of Horizon Bancorp (IN) stock in a transaction on Tuesday, November 28th. The stock was 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 in the company, valued at approximately $126,007.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Horizon Bancorp (HBNC) traded down $0.06 on Friday, reaching $27.44. 106,316 shares of the company traded hands, compared to its average volume of 64,652. The stock has a market cap of $699.24, a price-to-earnings ratio of 17.74 and a beta of 0.98. Horizon Bancorp has a 12-month low of $24.17 and a 12-month high of $29.25. 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 (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $35.90 million during the quarter, compared to analysts’ expectations of $37.81 million. Horizon Bancorp (IN) had a net margin of 20.03% and a return on equity of 9.58%. research analysts anticipate that Horizon Bancorp will post 1.64 earnings per share for the current year.

Several research firms have recently commented on HBNC. Zacks Investment Research lowered Horizon Bancorp (IN) from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 price target on Horizon Bancorp (IN) and gave the stock a “buy” rating in a report on Friday, October 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Horizon Bancorp (IN) presently has a consensus rating of “Buy” and an average target price of $29.75.

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Horizon Bancorp (IN) by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after buying an additional 662 shares during the period. Principal Financial Group Inc. purchased a new stake in Horizon Bancorp (IN) in the 2nd quarter valued at about $205,000. Goldman Sachs Group Inc. raised its holdings in Horizon Bancorp (IN) by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after buying an additional 519 shares during the period. Virginia Retirement Systems ET AL raised its holdings in Horizon Bancorp (IN) by 29.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 11,500 shares of the financial services provider’s stock valued at $303,000 after buying an additional 2,600 shares during the period. Finally, American Century Companies Inc. raised its holdings in Horizon Bancorp (IN) by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 11,664 shares of the financial services provider’s stock valued at $307,000 after buying an additional 678 shares during the period. Hedge funds and other institutional investors own 44.68% of the company’s stock.

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Horizon Bancorp (IN) 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.

Insider Buying and Selling by Quarter for Horizon Bancorp (IN) (NASDAQ:HBNC)

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