Horizon Bancorp (IN) (NASDAQ:HBNC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been given an average recommendation of “Hold” by the five analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.6667.

A number of research analysts have recently commented on HBNC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Stephens initiated coverage on shares of Horizon Bancorp (IN) in a research report on Friday. They issued an “overweight” rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Finally, Zacks Research cut shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd.

Horizon Bancorp (IN) Trading Down 0.8%

Shares of HBNC stock opened at $16.21 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $830.44 million, a price-to-earnings ratio of -5.15 and a beta of 0.82. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $19.07. The stock’s 50-day moving average price is $17.19 and its 200-day moving average price is $16.80.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $64.53 million during the quarter, compared to analyst estimates of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.77% and a negative net margin of 37.12%. Equities research analysts predict that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be given a $0.16 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $0.64 annualized dividend and a yield of 3.9%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.32%.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 1,057 shares during the last quarter. Empowered Funds LLC increased its position in shares of Horizon Bancorp (IN) by 28.5% during the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock valued at $2,269,000 after purchasing an additional 33,355 shares during the last quarter. Jane Street Group LLC purchased a new stake in Horizon Bancorp (IN) during the 1st quarter valued at $1,231,000. Geode Capital Management LLC raised its holdings in Horizon Bancorp (IN) by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,096,524 shares of the financial services provider’s stock valued at $16,868,000 after buying an additional 12,465 shares during the period. Finally, Rhumbline Advisers lifted its position in Horizon Bancorp (IN) by 3.2% in the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after buying an additional 2,093 shares during the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

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.