Horizon Bancorp (HBNC) Upgraded by Zacks Investment Research to Hold
Horizon Bancorp (NASDAQ:HBNC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
Separately, Stephens set a $27.00 price target on Horizon Bancorp and gave the company a “buy” rating in a research report on Monday, December 5th.
Horizon Bancorp (NASDAQ:HBNC) traded down 2.11% during trading on Monday, hitting $26.01. 33,457 shares of the company’s stock traded hands. Horizon Bancorp has a 12 month low of $15.83 and a 12 month high of $28.63. The stock has a market cap of $576.67 million, a P/E ratio of 21.86 and a beta of 0.79. The company’s 50 day moving average is $26.01 and its 200-day moving average is $27.15.
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In other news, Director Maurice F. Winkler III purchased 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were acquired at an average cost of $25.55 per share, with a total value of $204,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Horizon Bancorp during the fourth quarter valued at $131,000. Dubuque Bank & Trust Co. bought a new stake in shares of Horizon Bancorp during the third quarter valued at $251,000. GSA Capital Partners LLP bought a new stake in shares of Horizon Bancorp during the fourth quarter valued at $266,000. Sabal Trust CO raised its stake in shares of Horizon Bancorp by 0.6% in the third quarter. Sabal Trust CO now owns 10,883 shares of the financial services provider’s stock valued at $320,000 after buying an additional 61 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Horizon Bancorp by 52.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,410 shares of the financial services provider’s stock valued at $375,000 after buying an additional 4,602 shares in the last quarter. 28.53% of the stock is currently owned by hedge funds and other institutional investors.
Horizon Bancorp Company Profile
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking.
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