Horizon Bancorp (IN) (NASDAQ:HBNC) Given “Overweight” Rating at Stephens

Horizon Bancorp (IN) (NASDAQ:HBNC)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a research report issued on Wednesday,Benzinga reports. They presently have a $21.00 target price on the financial services provider’s stock. Stephens’ target price points to a potential upside of 5.11% from the stock’s previous close.

Several other research firms also recently issued reports on HBNC. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research upgraded Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, Weiss Ratings raised Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Horizon Bancorp (IN) has a consensus rating of “Hold” and a consensus target price of $21.00.

Horizon Bancorp (IN) Price Performance

Shares of Horizon Bancorp (IN) stock opened at $19.98 on Wednesday. Horizon Bancorp has a twelve month low of $14.84 and a twelve month high of $20.31. The stock has a market capitalization of $1.03 billion, a P/E ratio of -6.28 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $18.66 and its 200 day moving average price is $17.77.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%.The company had revenue of $73.48 million during the quarter, compared to analyst estimates of $76.11 million. As a group, research analysts anticipate that Horizon Bancorp will post 2.1 earnings per share for the current year.

Institutional Trading of Horizon Bancorp (IN)

A number of large investors have recently modified their holdings of HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Horizon Bancorp (IN) by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 1,057 shares during the period. Empowered Funds LLC grew its position in Horizon Bancorp (IN) by 28.5% in the first quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 33,355 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Horizon Bancorp (IN) in the first quarter valued at $1,231,000. Rhumbline Advisers increased its holdings in shares of Horizon Bancorp (IN) by 3.2% in the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock valued at $1,052,000 after buying an additional 2,093 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Horizon Bancorp (IN) during the 2nd quarter valued at $816,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.