Shares of Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report) have received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.6667.
HBNC has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Finally, Stephens began coverage on Horizon Bancorp (IN) in a report on Friday, March 27th. They issued an “overweight” rating and a $20.00 price objective on the stock.
View Our Latest Stock Report on Horizon Bancorp (IN)
Horizon Bancorp (IN) Stock Up 0.5%
Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The company had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. As a group, equities research analysts predict that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.
Horizon Bancorp (IN) Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 2nd. Horizon Bancorp (IN)’s payout ratio is currently -20.13%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of HBNC. Vanguard Group Inc. lifted its position in Horizon Bancorp (IN) by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock valued at $54,093,000 after acquiring an additional 176,448 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Horizon Bancorp (IN) by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock worth $41,116,000 after purchasing an additional 75,462 shares during the last quarter. PL Capital Advisors LLC grew its holdings in shares of Horizon Bancorp (IN) by 7.2% during the fourth quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock worth $30,746,000 after purchasing an additional 121,651 shares during the last quarter. Jennison Associates LLC increased its position in shares of Horizon Bancorp (IN) by 29.3% during the first quarter. Jennison Associates LLC now owns 1,605,798 shares of the financial services provider’s stock worth $26,608,000 after purchasing an additional 363,433 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Horizon Bancorp (IN) during the third quarter worth about $24,842,000. 64.51% of the stock is owned by hedge funds and other 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.
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