Horizon Bancorp (IN) (NASDAQ:HBNC) Given Consensus Recommendation of “Hold” by Brokerages

Horizon Bancorp (IN) (NASDAQ:HBNC) has been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.00.

Several research analysts have recently weighed in on HBNC shares. 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. Wall Street Zen cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Zacks Research raised 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 “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Finally, Stephens reiterated an “overweight” rating and issued a $21.00 price objective on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stieven Capital Advisors L.P. increased its position in Horizon Bancorp (IN) by 18.4% during the fourth quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider’s stock worth $7,530,000 after buying an additional 69,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Horizon Bancorp (IN) by 452.9% in the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock valued at $5,820,000 after buying an additional 297,799 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Horizon Bancorp (IN) in the third quarter valued at approximately $1,227,000. Maltese Capital Management LLC boosted its stake in shares of Horizon Bancorp (IN) by 9.3% during the 3rd quarter. Maltese Capital Management LLC now owns 841,700 shares of the financial services provider’s stock worth $13,476,000 after acquiring an additional 71,700 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Horizon Bancorp (IN) by 36.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 152,100 shares of the financial services provider’s stock worth $2,580,000 after acquiring an additional 40,913 shares during the period. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp (IN) Trading Up 0.0%

NASDAQ HBNC traded up $0.01 during trading hours on Tuesday, hitting $19.95. The company’s stock had a trading volume of 139,503 shares, compared to its average volume of 430,346. Horizon Bancorp has a twelve month low of $14.84 and a twelve month high of $20.50. The firm has a market capitalization of $1.02 billion, a P/E ratio of -6.28 and a beta of 0.82. 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 stock has a fifty day moving average of $18.84 and a 200 day moving average of $17.82.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%. Equities research analysts forecast that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.13%.

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.