Horizon Bancorp (IN) (NASDAQ:HBNC) Given Consensus Rating of “Hold” by Analysts

Horizon Bancorp (IN) (NASDAQ:HBNC) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.3333.

Several analysts recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Zacks Research downgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd.

Horizon Bancorp (IN) Stock Down 2.5%

Shares of NASDAQ:HBNC opened at $16.29 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $16.85. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $19.07. The stock has a market capitalization of $834.37 million, a price-to-earnings ratio of -5.17 and a beta of 0.82.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%. On average, research analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.16 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.9%. Horizon Bancorp (IN)’s payout ratio is currently -20.32%.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBNC. Bayview Asset Management LLC boosted its stake in shares of Horizon Bancorp (IN) by 0.7% in the 4th quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock worth $1,619,000 after buying an additional 645 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Horizon Bancorp (IN) by 65.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 660 shares during the period. Rafferty Asset Management LLC increased its position in shares of Horizon Bancorp (IN) by 3.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 941 shares during the last quarter. Keybank National Association OH lifted its stake in shares of Horizon Bancorp (IN) by 7.6% in the 2nd quarter. Keybank National Association OH now owns 14,089 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 1,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Horizon Bancorp (IN) by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 1,057 shares during the period. Hedge funds and other institutional investors 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.