Horizon Bancorp (IN) (NASDAQ:HBNC) Sets New 52-Week High – Time to Buy?

Horizon Bancorp (IN) (NASDAQ:HBNC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.60 and last traded at $18.46, with a volume of 447982 shares. The stock had previously closed at $18.47.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HBNC. Zacks Research cut Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Stephens upped their price target on shares of Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Horizon Bancorp (IN) in a research report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.67.

Horizon Bancorp (IN) Stock Down 0.1%

The stock has a market cap of $945.52 million, a PE ratio of -4.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50 day moving average price of $16.37 and a two-hundred day moving average price of $15.98.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.16). Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 10.01%. The business had revenue of $59.98 million for the quarter, compared to analysts’ expectations of $69.34 million. Analysts expect that Horizon Bancorp will post 1.78 EPS for the current year.

Institutional Trading of Horizon Bancorp (IN)

A number of large investors have recently made changes to their positions in HBNC. State of Alaska Department of Revenue bought a new position in Horizon Bancorp (IN) during the third quarter valued at approximately $28,000. Tower Research Capital LLC TRC raised its stake in Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after buying an additional 4,024 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Horizon Bancorp (IN) during the 2nd quarter valued at $134,000. Quadrant Capital Group LLC bought a new position in shares of Horizon Bancorp (IN) during the 3rd quarter valued at $140,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Horizon Bancorp (IN) by 17.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,600 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.