Wall Street Zen cut shares of Horizon Bancorp (IN) (NASDAQ:HBNC – Free Report) from a buy rating to a hold rating in a report published on Monday morning.
Several other brokerages have also recently weighed in on HBNC. Piper Sandler reissued a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Finally, Stephens reiterated an “overweight” rating and set a $21.00 target price on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.00.
Check Out Our Latest Stock Report on Horizon Bancorp (IN)
Horizon Bancorp (IN) Stock Performance
Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%.The firm had revenue of $75.50 million during the quarter, compared to the consensus estimate of $76.56 million. Analysts expect that Horizon Bancorp will post 2.09 earnings per share for the current year.
Horizon Bancorp (IN) Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, July 2nd. Horizon Bancorp (IN)’s payout ratio is -20.13%.
Institutional Trading of Horizon Bancorp (IN)
A number of hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in Horizon Bancorp (IN) by 65.6% during the 4th 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 period. Royal Bank of Canada grew its holdings in Horizon Bancorp (IN) by 93.5% in the first quarter. Royal Bank of Canada now owns 2,873 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,388 shares during the period. Tower Research Capital LLC TRC grew its holdings in Horizon Bancorp (IN) by 160.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,024 shares during the period. Rossby Financial LCC purchased a new stake in Horizon Bancorp (IN) in the fourth quarter worth about $124,000. Finally, Raymond James Financial Inc. bought a new position in shares of Horizon Bancorp (IN) during the second quarter valued at approximately $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.
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