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

Horizon Bancorp (IN) (NASDAQ:HBNC) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.6667.

Several research analysts have recently issued reports on HBNC shares. Wall Street Zen cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Weiss Ratings raised Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Finally, Stephens assumed coverage on shares of Horizon Bancorp (IN) in a report on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price for the company.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock opened at $19.52 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $18.07 and a 200 day moving average price of $17.56. The company has a market cap of $1.00 billion, a P/E ratio of -6.14 and a beta of 0.83. Horizon Bancorp has a 12 month low of $14.34 and a 12 month high of $19.63.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%. Sell-side analysts predict that Horizon Bancorp will post 2.1 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, April 17th. Shareholders of record on Friday, April 3rd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.13%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 period. Empowered Funds LLC boosted its position in shares of 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 valued at $2,269,000 after purchasing an additional 33,355 shares during the period. Jane Street Group LLC acquired a new stake in shares of Horizon Bancorp (IN) in the 1st quarter valued at about $1,231,000. Rhumbline Advisers boosted its holdings in shares of Horizon Bancorp (IN) by 3.2% in the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 2,093 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Horizon Bancorp (IN) in the second quarter valued at approximately $816,000. Institutional investors and hedge funds 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.