Horizon Bancorp (IN) (NASDAQ:HBNC) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Horizon Bancorp (IN) (NASDAQ:HBNC) from a buy rating to a hold rating in a research report sent to investors on Monday.

Several other equities analysts also recently weighed in on the company. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Piper Sandler restated a “neutral” rating and issued a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Stephens reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

Horizon Bancorp (IN) Stock Down 0.4%

HBNC stock opened at $20.21 on Monday. The company’s 50 day simple moving average is $19.16 and its 200-day simple moving average is $17.97. The firm has a market capitalization of $1.04 billion, a PE ratio of -6.36 and a beta of 0.82. Horizon Bancorp has a 12 month low of $14.84 and a 12 month high of $20.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90.

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 (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%.The firm had revenue of $73.48 million during the quarter, compared to the consensus estimate of $76.11 million. Equities analysts expect that Horizon Bancorp will post 2.09 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.13%.

Institutional Trading of Horizon Bancorp (IN)

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bayview Asset Management LLC grew its stake in shares of Horizon Bancorp (IN) by 0.7% in the fourth quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock valued at $1,619,000 after buying an additional 645 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Horizon Bancorp (IN) by 65.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 660 shares during the last quarter. Rafferty Asset Management LLC boosted 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 valued at $382,000 after purchasing an additional 941 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Horizon Bancorp (IN) by 4.3% during 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 purchasing an additional 1,057 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Horizon Bancorp (IN) by 2.4% during the 4th 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 hedge funds and other institutional investors.

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.