Horizon Bancorp (IN) (HBNC) – What Are Investment Firms Saying About This Stock?

Horizon Bancorp (IN) (NASDAQ:HBNC) has earned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.00.

A number of research analysts have commented on the stock. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods upped their target price on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday. Stephens lifted their price objective on Horizon Bancorp (IN) from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $25.00 price target (up from $24.00) on shares of Horizon Bancorp (IN) in a research note on Friday, October 23rd.

Institutional Trading of Horizon Bancorp (IN)

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Horizon Bancorp (IN) during the second quarter valued at $143,890,000. The Manufacturers Life Insurance Company purchased a new position in Horizon Bancorp (IN) during the second quarter valued at approximately $21,797,000. Jennison Associates LLC lifted its holdings in shares of Horizon Bancorp (IN) by 29.3% during the 1st quarter. Jennison Associates LLC now owns 1,605,798 shares of the financial services provider’s stock valued at $26,608,000 after buying an additional 363,433 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Horizon Bancorp (IN) during the second quarter worth $5,784,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Horizon Bancorp (IN) during the 2nd quarter worth $3,906,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Price Performance

Shares of NASDAQ HBNC opened at $21.27 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 0.92. Horizon Bancorp has a one year low of $15.43 and a one year high of $22.00. The firm has a market cap of $1.09 billion, a PE ratio of 10.18 and a beta of 0.82. The firm has a fifty day moving average of $19.91 and a 200 day moving average of $18.86.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. Horizon Bancorp (IN) had a net margin of 26.52% and a return on equity of 15.17%. The company had revenue of $77.09 million for the quarter, compared to analysts’ expectations of $77.99 million. As a group, research analysts predict that Horizon Bancorp will post 2.10 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, October 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently 30.62%.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp, Inc. is a bank holding company and the parent of Horizon Bank, a community bank serving customers in Indiana and Michigan. The company has roots dating to 1873 and is headquartered in Michigan City, Indiana. Horizon Bank provides personal and business banking services, including checking and savings accounts, lending, and cash-management services. Its lending includes consumer, residential mortgage, and commercial loans. The bank serves individuals, businesses, and communities through its branch network and digital banking services.