Brokerages Set Horizon Bancorp (IN) (NASDAQ:HBNC) Target Price at $20.33

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.3333.

HBNC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Zacks Research lowered Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd.

Horizon Bancorp (IN) Stock Performance

Shares of NASDAQ:HBNC opened at $18.14 on Friday. The firm’s 50 day simple moving average is $17.66 and its 200 day simple moving average is $16.63. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $19.07. The company has a market capitalization of $929.13 million, a price-to-earnings ratio of -5.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued 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 during the quarter, compared to the consensus estimate of $74.35 million. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.56%. As a group, sell-side analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.32%.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several large investors have recently made changes to their positions in HBNC. State of Alaska Department of Revenue bought a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Horizon Bancorp (IN) by 65.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 660 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Horizon Bancorp (IN) by 160.2% in 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 purchasing an additional 4,024 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Horizon Bancorp (IN) during the second quarter worth about $134,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Horizon Bancorp (IN) during the third quarter worth about $140,000. 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.