Analysts Set Horizon Bancorp (IN) (NASDAQ:HBNC) PT at $19.67

Horizon Bancorp (IN) (NASDAQ:HBNC) has received an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat 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 brokers that have issued a report on the stock in the last year is $19.6667.

HBNC has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Stephens initiated coverage on Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Finally, Zacks Research upgraded Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th.

Horizon Bancorp (IN) Trading Up 1.3%

Shares of HBNC stock opened at $16.57 on Friday. The stock has a market capitalization of $848.88 million, a PE ratio of -5.26 and a beta of 0.82. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $19.07. The business has a 50-day moving average of $17.15 and a 200 day moving average of $16.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.94.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.77% and a negative net margin of 37.12%.The business had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $74.35 million. As a group, sell-side analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.9%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.32%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in Horizon Bancorp (IN) during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Horizon Bancorp (IN) by 65.6% in the 4th 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 during the period. Tower Research Capital LLC TRC boosted its position in shares of Horizon Bancorp (IN) by 160.2% during 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. Rossby Financial LCC purchased a new stake in Horizon Bancorp (IN) in the fourth quarter worth $124,000. Finally, Raymond James Financial Inc. bought a new position in Horizon Bancorp (IN) in the second quarter worth $134,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

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.