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

Horizon Bancorp (IN) (NASDAQ:HBNC) has been given an average recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.3333.

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd.

Institutional Investors Weigh In On Horizon Bancorp (IN)

A number of hedge funds and other institutional investors have recently bought and sold shares of HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 acquiring an additional 1,057 shares during the period. Empowered Funds LLC boosted its stake in Horizon Bancorp (IN) by 28.5% in the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 33,355 shares during the period. Jane Street Group LLC purchased a new position in Horizon Bancorp (IN) during the 1st quarter valued at about $1,231,000. Inspire Investing LLC boosted its position in shares of Horizon Bancorp (IN) by 11.6% in the second quarter. Inspire Investing LLC now owns 25,328 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 2,635 shares during the period. Finally, Harbour Trust & Investment Management Co increased its holdings in Horizon Bancorp (IN) by 4.5% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 328,569 shares of the financial services provider’s stock worth $5,053,000 after acquiring an additional 14,134 shares during the period. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Up 1.8%

HBNC stock opened at $18.58 on Friday. The stock has a market cap of $951.67 million, a P/E ratio of -5.90 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $17.59 and its two-hundred day simple moving average is $16.57. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $64.53 million for the quarter, compared to analyst estimates of $74.35 million. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.56%. Analysts expect that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.32%.

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.