Horizon Bancorp (IN) (NASDAQ:HBNC) Research Coverage Started at Stephens

Stephens assumed coverage on shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in a report published on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $20.00 price target on the financial services provider’s stock.

Several other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of 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 report on Monday, December 29th. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Zacks Research lowered shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Horizon Bancorp (IN) has a consensus rating of “Hold” and a consensus target price of $19.67.

Horizon Bancorp (IN) Stock Performance

Shares of NASDAQ HBNC 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 PE ratio of -5.15 and a beta of 0.82. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.07. The stock has a fifty day simple moving average of $17.19 and a 200-day simple moving average of $16.81.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $64.53 million for 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%. On average, equities analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. PL Capital Advisors LLC lifted its stake in Horizon Bancorp (IN) by 13.4% during the third quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after purchasing an additional 200,000 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Horizon Bancorp (IN) in the third quarter valued at approximately $1,780,000. Horizon Bancorp Inc. IN raised its holdings in Horizon Bancorp (IN) by 61.5% during the third quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock worth $9,319,000 after purchasing an additional 221,620 shares in the last quarter. HoldCo Asset Management LP acquired a new stake in Horizon Bancorp (IN) during the second quarter worth approximately $1,411,000. Finally, Siena Capital Partners GP LLC purchased a new stake in shares of Horizon Bancorp (IN) during the 3rd quarter worth approximately $2,093,000. 64.51% of the stock is owned by institutional investors and hedge funds.

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.