Horizon Bancorp (IN) (NASDAQ:HBNC) Given Average Recommendation of “Hold” by Brokerages

Horizon Bancorp (IN) (NASDAQ:HBNC) has received an average rating of “Hold” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Two equities 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.3333.

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

Hedge Funds Weigh In On Horizon Bancorp (IN)

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Horizon Bancorp (IN) by 65.6% in the fourth 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 last quarter. Tower Research Capital LLC TRC lifted its position in shares of Horizon Bancorp (IN) by 160.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 4,024 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Horizon Bancorp (IN) during the second quarter worth about $134,000. Finally, Quadrant Capital Group LLC purchased a new position in Horizon Bancorp (IN) during the third quarter worth about $140,000. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC opened at $18.58 on Friday. The stock’s 50-day simple moving average is $17.59 and its 200 day simple moving average is $16.57. The firm has a market capitalization of $951.67 million, a PE ratio of -5.90 and a beta of 0.83. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.07.

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

Horizon Bancorp (IN) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.64 annualized dividend and a yield of 3.4%. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.32%.

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.