$37.57 Million in Sales Expected for Horizon Bancorp (IN) (HBNC) This Quarter

Brokerages expect Horizon Bancorp (IN) (NASDAQ:HBNC) to report sales of $37.57 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Horizon Bancorp (IN)’s earnings, with estimates ranging from $37.40 million to $37.74 million. Horizon Bancorp (IN) posted sales of $34.47 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The company is scheduled to report its next earnings report on Wednesday, October 25th.

On average, analysts expect that Horizon Bancorp (IN) will report full-year sales of $37.57 million for the current fiscal year, with estimates ranging from $147.96 million to $148.10 million. For the next financial year, analysts expect that the company will post sales of $175.25 million per share, with estimates ranging from $174.59 million to $175.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Horizon Bancorp (IN).

Several analysts recently issued reports on HBNC shares. Piper Jaffray Companies set a $32.00 price objective on shares of Horizon Bancorp (IN) and gave the company a “buy” rating in a research note on Saturday, July 29th. Zacks Investment Research cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, ValuEngine raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $29.50.

Shares of Horizon Bancorp (HBNC) traded up 0.76% on Wednesday, hitting $26.52. 9,521 shares of the company were exchanged. The firm’s 50-day moving average is $25.98 and its 200-day moving average is $26.05. Horizon Bancorp has a 52-week low of $17.70 and a 52-week high of $28.63. The stock has a market capitalization of $588.11 million, a PE ratio of 19.95 and a beta of 0.99.

In related news, insider James D. Neff sold 1,800 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $26.25, for a total transaction of $47,250.00. Following the completion of the sale, the insider now owns 147,176 shares of the company’s stock, valued at approximately $3,863,370. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James D. Neff sold 4,799 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $26.75, for a total transaction of $128,373.25. Following the sale, the insider now directly owns 147,176 shares of the company’s stock, valued at approximately $3,936,958. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,254 shares of company stock valued at $713,536. 5.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in Horizon Bancorp (IN) by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 519 shares in the last quarter. American International Group Inc. grew its stake in Horizon Bancorp (IN) by 21.3% during the 1st quarter. American International Group Inc. now owns 11,747 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 2,065 shares in the last quarter. Vanguard Group Inc. grew its stake in Horizon Bancorp (IN) by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 856,513 shares of the financial services provider’s stock valued at $22,457,000 after acquiring an additional 21,429 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of Horizon Bancorp (IN) in the 1st quarter valued at approximately $1,000,000. Finally, Renaissance Technologies LLC grew its stake in shares of Horizon Bancorp (IN) by 20.8% in the 1st quarter. Renaissance Technologies LLC now owns 290,070 shares of the financial services provider’s stock valued at $7,606,000 after buying an additional 49,900 shares during the period. 45.13% of the stock is owned by institutional investors.

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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.

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

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