Horizon Bancorp (IN) (NASDAQ:HBNC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two 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 12-month price target among brokerages that have issued a report on the stock in the last year is $20.3333.

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

Hedge Funds Weigh In On Horizon Bancorp (IN)

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Horizon Bancorp (IN) by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock worth $54,093,000 after acquiring an additional 176,448 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Horizon Bancorp (IN) by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock worth $41,116,000 after purchasing an additional 75,462 shares during the last quarter. PL Capital Advisors LLC lifted its holdings in shares of Horizon Bancorp (IN) by 7.2% during the fourth quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock worth $30,746,000 after purchasing an additional 121,651 shares during the period. Wellington Management Group LLP purchased a new position in Horizon Bancorp (IN) in the 3rd quarter valued at $24,842,000. Finally, State Street Corp increased its stake in Horizon Bancorp (IN) by 19.9% in the 4th quarter. State Street Corp now owns 1,480,580 shares of the financial services provider’s stock valued at $25,111,000 after buying an additional 245,416 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Trading Down 0.6%

Shares of NASDAQ HBNC opened at $16.93 on Wednesday. The stock has a market capitalization of $867.15 million, a PE ratio of -5.37 and a beta of 0.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $17.55 and a 200-day simple moving average of $16.84. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $74.35 million. On average, equities analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.8%. Horizon Bancorp (IN)’s dividend payout ratio is -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.