Analysts Set Horizon Bancorp (IN) (NASDAQ:HBNC) PT at $19.67

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $19.6667.

HBNC has been the topic of several recent research reports. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Stephens raised their target price on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday. Finally, Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $19.00 in a report on Tuesday, August 26th.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Horizon Bancorp (IN) in the third quarter worth $28,000. Tower Research Capital LLC TRC boosted its holdings in Horizon Bancorp (IN) by 160.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after buying an additional 4,024 shares during the period. Raymond James Financial Inc. purchased a new stake in Horizon Bancorp (IN) in the 2nd quarter worth $134,000. Quadrant Capital Group LLC purchased a new stake in Horizon Bancorp (IN) in the 3rd quarter worth $140,000. Finally, New York State Common Retirement Fund raised its holdings in Horizon Bancorp (IN) by 17.9% during the third quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,600 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Trading Up 1.0%

Horizon Bancorp (IN) stock opened at $17.23 on Monday. The business has a 50-day simple moving average of $15.99 and a two-hundred day simple moving average of $15.76. The company has a market cap of $882.47 million, a P/E ratio of -4.38 and a beta of 0.90. Horizon Bancorp has a 52-week low of $12.70 and a 52-week high of $18.73. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.14.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.16). The business had revenue of $59.98 million during the quarter, compared to the consensus estimate of $69.34 million. Horizon Bancorp (IN) had a positive return on equity of 9.64% and a negative net margin of 51.01%. Analysts predict that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. Horizon Bancorp (IN)’s payout ratio is -16.28%.

About Horizon Bancorp (IN)

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.