Horizon Bancorp (IN) (NASDAQ:HBNC) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Horizon Bancorp (IN) (NASDAQ:HBNC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.51 and traded as high as $18.18. Horizon Bancorp (IN) shares last traded at $17.96, with a volume of 473,026 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.33.

Horizon Bancorp (IN) Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a fifty day moving average price of $17.50 and a two-hundred day moving average price of $16.51. The company has a market cap of $919.91 million, a P/E ratio of -5.70 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% 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 fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.16 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.6%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.32%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Horizon Bancorp (IN) during the third quarter valued at about $28,000. Tower Research Capital LLC TRC raised its holdings in shares of Horizon Bancorp (IN) by 160.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 4,024 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Horizon Bancorp (IN) in the 2nd quarter valued at approximately $134,000. Quadrant Capital Group LLC acquired a new position in Horizon Bancorp (IN) in the 3rd quarter worth approximately $140,000. Finally, New York State Common Retirement Fund grew its position in Horizon Bancorp (IN) by 17.9% during the 3rd quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

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.