Horizon Bancorp (IN) (NASDAQ:HBNC) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Horizon Bancorp (IN) (NASDAQ:HBNC)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.51 and traded as high as $18.18. Horizon Bancorp (IN) shares last traded at $17.96, with a volume of 473,026 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HBNC shares. Zacks Research downgraded shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Keefe, Bruyette & Woods raised their price objective on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.33.

Horizon Bancorp (IN) Trading Up 1.9%

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $919.91 million, a price-to-earnings ratio of -5.70 and a beta of 0.83. The business’s 50-day moving average price is $17.50 and its two-hundred day moving average price is $16.51.

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 the consensus estimate of $0.50 by $0.03. The firm had revenue of $64.53 million during the quarter, compared to analysts’ expectations of $74.35 million. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.56%. Equities analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.32%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Horizon Bancorp (IN) by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after buying an additional 1,057 shares during the period. Empowered Funds LLC increased its holdings in Horizon Bancorp (IN) by 28.5% during the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 33,355 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Horizon Bancorp (IN) in the first quarter worth $1,231,000. Inspire Investing LLC grew its holdings in Horizon Bancorp (IN) by 11.6% during the 2nd quarter. Inspire Investing LLC now owns 25,328 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 2,635 shares in the last quarter. Finally, Harbour Trust & Investment Management Co increased its position in shares of Horizon Bancorp (IN) by 4.5% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 328,569 shares of the financial services provider’s stock worth $5,053,000 after purchasing an additional 14,134 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Company Profile

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.