Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $20.66 and last traded at $20.6520, with a volume of 91888 shares changing hands. The stock had previously closed at $20.36.
Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. Stephens reiterated an “overweight” rating and set a $21.00 target price on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $23.00 target price (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Horizon Bancorp (IN) presently has an average rating of “Hold” and an average price target of $22.33.
View Our Latest Analysis on HBNC
Institutional Trading of Horizon Bancorp (IN)
Horizon Bancorp (IN) Trading Up 1.7%
The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -6.55 and a beta of 0.82. The business has a fifty day simple moving average of $19.40 and a 200 day simple moving average of $18.08.
Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.52%. The firm had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $76.56 million. On average, equities analysts anticipate that Horizon Bancorp will post 2.09 EPS for the current fiscal year.
Horizon Bancorp (IN) Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.25%.
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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