Horizon Bancorp (IN) (NASDAQ:HBNC) Receives Average Rating of “Hold” from Analysts

Horizon Bancorp (IN) (NASDAQ:HBNC) has earned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.3333.

HBNC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Finally, Zacks Research cut 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 $16.17 on Wednesday. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $19.07. The company’s 50 day moving average price is $17.46 and its two-hundred day moving average price is $16.86. The firm has a market cap of $828.23 million, a PE ratio of -5.13 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 (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The company 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%. Equities research analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.32%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Several hedge funds have recently bought and sold shares of HBNC. Bayview Asset Management LLC lifted its holdings in shares of Horizon Bancorp (IN) by 0.7% during the 4th quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock worth $1,619,000 after acquiring an additional 645 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 660 shares during the last quarter. Rafferty Asset Management LLC increased its stake in Horizon Bancorp (IN) by 3.9% in the second quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 941 shares during the last quarter. Keybank National Association OH raised its position in Horizon Bancorp (IN) by 7.6% during the second quarter. Keybank National Association OH now owns 14,089 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 1,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Horizon Bancorp (IN) by 4.3% during the first 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 in the last quarter. 64.51% of the stock is owned by institutional investors.

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.