Horizon Bancorp (IN) (NASDAQ:HBNC) Given Average Rating of “Hold” by Analysts

Horizon Bancorp (IN) (NASDAQ:HBNC) has earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.6667.

HBNC has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Zacks Research lowered Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Horizon Bancorp (IN) in a research note on Tuesday, December 2nd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new position in shares of Horizon Bancorp (IN) during the third quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its position in Horizon Bancorp (IN) by 160.2% in the 2nd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Horizon Bancorp (IN) during the 2nd quarter valued at about $134,000. Quadrant Capital Group LLC bought a new stake in Horizon Bancorp (IN) during the 3rd quarter worth approximately $140,000. Finally, New York State Common Retirement Fund increased its holdings 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. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp (IN) Price Performance

Shares of HBNC stock opened at $17.51 on Tuesday. The business has a fifty day simple moving average of $17.17 and a 200 day simple moving average of $16.39. The company has a market cap of $896.86 million, a P/E ratio of -4.46 and a beta of 0.82. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $18.70.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). The company had revenue of $59.98 million for the quarter, compared to analyst estimates of $69.34 million. Horizon Bancorp (IN) had a positive return on equity of 10.01% and a negative net margin of 51.01%. On average, sell-side analysts forecast that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -16.28%.

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.