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

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been given a consensus rating of “Hold” by the five ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $21.00.

Several equities research analysts have issued reports on HBNC shares. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Zacks Research upgraded Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Wall Street Zen cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Piper Sandler restated a “neutral” rating and issued a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Finally, Stephens reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st.

Hedge Funds Weigh In On Horizon Bancorp (IN)

A number of hedge funds have recently bought and sold shares of HBNC. Bayview Asset Management LLC increased its position 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 raised its position in shares of Horizon Bancorp (IN) by 65.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 660 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in 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 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in 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 in the last quarter. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp (IN) Stock Performance

Shares of NASDAQ:HBNC traded up $0.01 on Tuesday, hitting $19.95. The company had a trading volume of 139,503 shares, compared to its average volume of 430,346. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -6.28 and a beta of 0.82. The stock has a 50 day moving average price of $18.84 and a 200 day moving average price of $17.82. Horizon Bancorp has a 1-year low of $14.84 and a 1-year high of $20.50. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company 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 12.41%. Analysts expect that Horizon Bancorp will post 2.1 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Horizon Bancorp (IN)’s payout ratio is presently -20.13%.

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.