Horizon Bancorp (IN) (NASDAQ:HBNC) Receives Average Recommendation of “Hold” from Brokerages

Horizon Bancorp (IN) (NASDAQ:HBNC) has been assigned a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $21.00.

Several equities analysts recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $21.00 target price on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 buying an additional 1,057 shares during the period. Empowered Funds LLC boosted its position in 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 buying an additional 33,355 shares during the period. Jane Street Group LLC purchased a new stake in Horizon Bancorp (IN) during the 1st quarter valued at $1,231,000. Rhumbline Advisers grew its holdings in Horizon Bancorp (IN) by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Horizon Bancorp (IN) in the 2nd quarter worth $816,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Up 0.9%

Shares of HBNC opened at $19.75 on Tuesday. The firm has a market cap of $1.01 billion, a P/E ratio of -6.21 and a beta of 0.82. The stock has a 50 day simple moving average of $18.99 and a two-hundred day simple moving average of $17.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. Horizon Bancorp has a 1 year low of $14.84 and a 1 year high of $20.50.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $73.48 million for the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. On average, analysts forecast that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, July 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.13%.

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.