Horizon Bancorp (IN) (NASDAQ:HBNC) Given Consensus Recommendation of “Hold” by Analysts

Horizon Bancorp (IN) (NASDAQ:HBNC) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.6667.

A number of brokerages recently issued reports on HBNC. Zacks Research lowered shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Horizon Bancorp (IN) in a research note on Tuesday, December 2nd.

Horizon Bancorp (IN) Trading Down 0.8%

Horizon Bancorp (IN) stock opened at $17.51 on Tuesday. The stock has a 50-day moving average price of $17.14 and a 200 day moving average price of $16.38. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $18.70. The stock has a market cap of $896.86 million, a PE ratio of -4.46 and a beta of 0.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.16). The firm 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%. Equities research analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

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

Hedge Funds Weigh In On Horizon Bancorp (IN)

Institutional investors and hedge funds have recently bought and sold shares of the stock. HoldCo Asset Management LP acquired a new stake in shares of Horizon Bancorp (IN) in the second quarter worth $1,411,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Horizon Bancorp (IN) in the third quarter valued at about $1,780,000. Strs Ohio acquired a new position in Horizon Bancorp (IN) during the 1st quarter worth approximately $552,000. Creative Planning raised its stake in shares of Horizon Bancorp (IN) by 88.1% during the second quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock valued at $1,771,000 after purchasing an additional 53,924 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Horizon Bancorp (IN) by 95.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,665 shares of the financial services provider’s stock worth $2,056,000 after purchasing an additional 65,375 shares in the last quarter. 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.