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

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $19.6667.

Several research firms have recently commented on HBNC. Zacks Research lowered Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Horizon Bancorp (IN) in a research note on Tuesday, December 2nd.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several large investors have recently made changes to their positions in HBNC. HoldCo Asset Management LP acquired a new position in Horizon Bancorp (IN) during the 2nd quarter valued at about $1,411,000. Deprince Race & Zollo Inc. bought a new position in shares of Horizon Bancorp (IN) in the third quarter valued at approximately $1,780,000. Strs Ohio acquired a new position in shares of Horizon Bancorp (IN) during the first quarter valued at approximately $552,000. Creative Planning raised its holdings in Horizon Bancorp (IN) by 88.1% during the second quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock worth $1,771,000 after purchasing an additional 53,924 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Horizon Bancorp (IN) by 95.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,665 shares of the financial services provider’s stock worth $2,056,000 after purchasing an additional 65,375 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Up 0.2%

Shares of NASDAQ:HBNC opened at $17.07 on Tuesday. The company’s fifty day moving average is $17.02 and its two-hundred day moving average is $16.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $18.70. The stock has a market capitalization of $874.33 million, a price-to-earnings ratio of -4.34 and a beta of 0.82.

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

Horizon Bancorp (IN) Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, January 2nd. Horizon Bancorp (IN)’s payout ratio is presently -16.28%.

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.