Horizon Bancorp (IN) (NASDAQ:HBNC) Coverage Initiated at Stephens

Equities research analysts at Stephens started coverage on shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in a research note issued to investors on Friday, Marketbeat.com reports. The firm set an “overweight” rating and a $20.00 price target on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 23.38% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Zacks Research downgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Finally, Keefe, Bruyette & Woods boosted 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. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.67.

Horizon Bancorp (IN) Stock Performance

Shares of Horizon Bancorp (IN) stock opened at $16.21 on Friday. The business’s fifty day simple moving average is $17.19 and its 200 day simple moving average is $16.80. 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 12 month low of $12.70 and a 12 month high of $19.07. The firm has a market capitalization of $830.44 million, a P/E ratio of -5.15 and a beta of 0.82.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $64.53 million during the quarter, compared to the consensus estimate of $74.35 million. As a group, analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current year.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several large investors have recently added to or reduced their stakes in the company. Bayview Asset Management LLC raised its stake in Horizon Bancorp (IN) by 0.7% in the 4th quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock valued at $1,619,000 after acquiring an additional 645 shares during the period. EverSource Wealth Advisors LLC boosted its position in Horizon Bancorp (IN) by 65.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Horizon Bancorp (IN) by 3.9% in the second quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 941 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Horizon Bancorp (IN) by 4.3% in 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 purchasing an additional 1,057 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Horizon Bancorp (IN) by 2.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 50,097 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 1,193 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

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.