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

Horizon Bancorp (IN) (NASDAQ:HBNC) has received an average rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.6667.

HBNC has been the topic of several recent research reports. Stephens assumed coverage on Horizon Bancorp (IN) in a research note on Friday. They issued an “overweight” rating and a $20.00 price objective on the stock. Zacks Research downgraded Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st.

Hedge Funds Weigh In On Horizon Bancorp (IN)

A number of hedge funds have recently made changes to their positions in HBNC. PL Capital Advisors LLC lifted its holdings in shares of Horizon Bancorp (IN) by 13.4% in the third quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after buying an additional 200,000 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in Horizon Bancorp (IN) by 61.5% during the third quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock valued at $9,319,000 after acquiring an additional 221,620 shares in the last quarter. HoldCo Asset Management LP purchased a new position in Horizon Bancorp (IN) during the second quarter valued at $1,411,000. Deprince Race & Zollo Inc. bought a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at $1,780,000. Finally, Siena Capital Partners GP LLC bought a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at $2,093,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Trading Down 0.8%

NASDAQ:HBNC opened at $16.21 on Friday. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.07. The business has a fifty day moving average price of $17.19 and a 200-day moving average price of $16.80. The firm has a market capitalization of $830.44 million, a price-to-earnings ratio of -5.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.94.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.77% and a negative net margin of 37.12%.The company had revenue of $64.53 million for the quarter, compared to the consensus estimate of $74.35 million. Sell-side analysts forecast that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, April 3rd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.9%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.32%.

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.