Horizon Bancorp (HBNC) Stock Rating Upgraded by BidaskClub

Horizon Bancorp (NASDAQ:HBNC) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.

Several other research analysts have also recently issued reports on HBNC. ValuEngine cut Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Stephens reissued a “buy” rating and issued a $24.00 price objective on shares of Horizon Bancorp in a research note on Friday, July 27th. Finally, Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.50.

HBNC opened at $18.25 on Thursday. The company has a market cap of $757.66 million, a PE ratio of 17.89 and a beta of 0.90. Horizon Bancorp has a one year low of $17.07 and a one year high of $22.13. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.20.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, July 25th. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $42.48 million for the quarter, compared to analysts’ expectations of $42.33 million. Horizon Bancorp had a return on equity of 10.03% and a net margin of 23.28%. As a group, equities research analysts predict that Horizon Bancorp will post 1.47 earnings per share for the current year.

In other Horizon Bancorp news, insider Dennis Kuhn sold 5,841 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $20.72, for a total transaction of $121,025.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry N. Middleton sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.69, for a total value of $51,725.00. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of HBNC. Tradition Capital Management LLC lifted its holdings in shares of Horizon Bancorp by 47.8% during the 2nd quarter. Tradition Capital Management LLC now owns 90,587 shares of the financial services provider’s stock valued at $1,874,000 after purchasing an additional 29,285 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Horizon Bancorp by 63.0% during the 2nd quarter. Swiss National Bank now owns 65,850 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 25,450 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Horizon Bancorp by 50.0% during the 2nd quarter. US Bancorp DE now owns 13,725 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 4,575 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Horizon Bancorp by 4.3% during the 1st quarter. Wells Fargo & Company MN now owns 70,700 shares of the financial services provider’s stock valued at $2,122,000 after purchasing an additional 2,944 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Horizon Bancorp by 45.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 40,324 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 12,646 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

Featured Article: What do I need to know about analyst ratings?

Receive News & Ratings for Horizon Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply