The stock of Horizon Bancorp (NASDAQ:HBNC) hit a new 52-week high and has $44.74 target or 41.00% above today’s $31.73 share price. The 6 months bullish chart indicates low risk for the $750.23 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $44.74 price target is reached, the company will be worth $307.59M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 45,377 shares traded hands or 55.87% up from the average. Horizon Bancorp (NASDAQ:HBNC) has risen 32.97% since April 11, 2016 and is uptrending. It has outperformed by 26.83% the S&P500.
Horizon Bancorp (NASDAQ:HBNC) Ratings Coverage
Out of 9 analysts covering Horizon Bancorp (NASDAQ:HBNC), 7 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 78% are positive. Horizon Bancorp has been the topic of 11 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Sandler O’Neill given on Thursday, January 7. The firm earned “Outperform” rating on Monday, March 14 by FIG Partners. The firm has “Overweight” rating by Piper Jaffray given on Thursday, October 6. On Friday, August 7 the stock rating was upgraded by Bruyette & Woods” to “Mkt Perform”. The rating was downgraded by Zacks to “Sell” on Thursday, September 3. The stock of Horizon Bancorp (NASDAQ:HBNC) has “Overweight” rating given on Friday, October 2 by Stephens. As per Friday, August 7, the company rating was upgraded by Bruyette & Woods”. KBW upgraded the shares of HBNC in a report on Friday, August 7 to “Outperform” rating. The rating was initiated by PiperJaffray on Thursday, October 6 with “Overweight”.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.5 in 2016 Q2. Its up 0.45, from 1.05 in 2016Q1. The ratio is positive, as 4 funds sold all Horizon Bancorp shares owned while 22 reduced positions. 4 funds bought stakes while 35 increased positions. They now own 5.28 million shares or 3.86% more from 5.08 million shares in 2016Q1.
Amica Mutual Insur reported 79,656 shares or 0.19% of all its holdings. California Employees Retirement Systems, a California-based fund reported 27,600 shares. Northern Tru owns 114,089 shares or 0% of their US portfolio. The Indiana-based 1St Source National Bank & Trust has invested 0.54% in Horizon Bancorp (NASDAQ:HBNC). Renaissance Technology Lc owns 158,155 shares or 0.01% of their US portfolio. Moreover, Blackrock Incorporated has 0% invested in Horizon Bancorp (NASDAQ:HBNC) for 3,355 shares. Delta Asset Mgmt Limited Liability Co Tn has 0.01% invested in the company for 1,716 shares. Rhumbline Advisers holds 0% or 13,686 shares in its portfolio. Pacific Ridge Cap Prns Ltd Com holds 95,528 shares or 1.09% of its portfolio. Fmr Ltd Com last reported 60,000 shares in the company. Earnest Prtnrs Limited Liability Company holds 1,300 shares or 0% of its portfolio. First Tru Ltd Partnership accumulated 16,349 shares or 0% of the stock. Deprince Race Zollo holds 51,808 shares or 0.03% of its portfolio. The Germany-based Deutsche Financial Bank Ag has invested 0% in Horizon Bancorp (NASDAQ:HBNC). Amica Pension Fund Board Of Trustees holds 0.19% or 57,924 shares in its portfolio.
Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 4 insider sales for $818,500 net activity. The insider DWIGHT CRAIG M sold $246,700. 10,000 Horizon Bancorp (NASDAQ:HBNC) shares with value of $276,500 were sold by EDWARDS THOMAS H.
More important recent Horizon Bancorp (NASDAQ:HBNC) news were published by: Businesswire.com which released: “Horizon Bancorp Announces Closing of CNB Bancorp Merger” on November 07, 2016, also Businesswire.com published article titled: “Horizon Bancorp and LaPorte Bancorp, Inc. Announce the Signing of a Merger …”, Businesswire.com published: “Horizon Bancorp and Kosciusko Financial, Inc. Announce the Signing of a Merger …” on February 05, 2016. More interesting news about Horizon Bancorp (NASDAQ:HBNC) was released by: Businesswire.com and their article: “Horizon Bancorp Announces Closing of LaPorte Bancorp, Inc. Merger” with publication date: July 18, 2016.
HBNC Company Profile
Horizon Bancorp, incorporated on April 26, 1983, is a bank holding company. The Firm 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. Horizon Risk Management, Inc. is a captive insurance company. The Bank maintains approximately 54 full service offices.
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