Horizon Bancorp (IN) (NASDAQ:HBNC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Horizon Bancorp (IN) (NASDAQ:HBNC) from a hold rating to a buy rating in a report published on Sunday morning.

Other analysts have also recently issued research reports about the company. Stephens restated an “overweight” rating and issued a $21.00 price target on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Piper Sandler reaffirmed a “neutral” rating and set a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a research report on Friday, July 24th. Keefe, Bruyette & Woods boosted their price objective on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Horizon Bancorp (IN) currently has a consensus rating of “Hold” and a consensus target price of $22.33.

Horizon Bancorp (IN) Trading Down 0.4%

Shares of HBNC stock opened at $20.28 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -6.42 and a beta of 0.82. Horizon Bancorp has a 1 year low of $14.84 and a 1 year high of $21.04. The firm has a fifty day moving average price of $20.04 and a 200-day moving average price of $18.43.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $75.50 million during the quarter, compared to the consensus estimate of $76.56 million. Horizon Bancorp (IN) had a positive return on equity of 13.31% and a negative net margin of 36.38%. As a group, equities analysts predict that Horizon Bancorp will post 2.07 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 annualized dividend and a yield of 3.2%. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.25%.

Insider Transactions at Horizon Bancorp (IN)

In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the sale, the executive vice president owned 50,346 shares in the company, valued at approximately $1,016,485.74. This represents a 13.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Hedge funds have recently made changes to their positions in the business. Stieven Capital Advisors L.P. boosted its holdings in shares of Horizon Bancorp (IN) by 18.4% during the 4th quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider’s stock valued at $7,530,000 after purchasing an additional 69,000 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Horizon Bancorp (IN) by 274.5% in the first quarter. Hsbc Holdings PLC now owns 80,277 shares of the financial services provider’s stock worth $1,327,000 after purchasing an additional 58,840 shares during the last quarter. Sei Investments Co. lifted its position in shares of Horizon Bancorp (IN) by 175.2% in the first quarter. Sei Investments Co. now owns 90,926 shares of the financial services provider’s stock worth $1,507,000 after buying an additional 57,892 shares in the last quarter. PL Capital Advisors LLC lifted its position in shares of Horizon Bancorp (IN) by 7.2% in the fourth quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock worth $30,746,000 after buying an additional 121,651 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Horizon Bancorp (IN) by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock worth $54,093,000 after buying an additional 176,448 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

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.