Horizon Bancorp (IN) (NASDAQ:HBNC) Receives $19.67 Consensus PT from Analysts

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been given an average rating of “Hold” by the five research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.6667.

HBNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Stephens initiated coverage on shares of Horizon Bancorp (IN) in a research note on Friday, March 27th. They set an “overweight” rating and a $20.00 target price for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Bancorp (IN) in a research note on Friday, April 10th. Finally, Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Large investors have recently bought and sold shares of the stock. Keybank National Association OH raised its stake in shares of Horizon Bancorp (IN) by 12.0% in the 1st quarter. Keybank National Association OH now owns 37,778 shares of the financial services provider’s stock valued at $626,000 after buying an additional 4,033 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Horizon Bancorp (IN) by 12.0% in the 1st quarter. Inspire Investing LLC now owns 30,920 shares of the financial services provider’s stock valued at $512,000 after buying an additional 3,321 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Horizon Bancorp (IN) by 15.9% in the 1st quarter. SG Americas Securities LLC now owns 20,466 shares of the financial services provider’s stock valued at $339,000 after buying an additional 2,815 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Horizon Bancorp (IN) by 34.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,092 shares of the financial services provider’s stock valued at $290,000 after buying an additional 4,354 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in shares of Horizon Bancorp (IN) by 63.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 32,186 shares of the financial services provider’s stock valued at $567,000 after buying an additional 12,503 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Price Performance

Shares of Horizon Bancorp (IN) stock opened at $17.83 on Thursday. The firm has a fifty day simple moving average of $16.96 and a 200-day simple moving average of $16.97. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.59. Horizon Bancorp has a 1-year low of $14.34 and a 1-year high of $19.07. The stock has a market capitalization of $913.43 million, a price-to-earnings ratio of -5.61 and a beta of 0.80.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.35%. On average, sell-side analysts expect that Horizon Bancorp will post 2.05 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.13%.

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.