Horizon Bancorp (IN) (NASDAQ:HBNC) Receives $19.67 Consensus PT from Brokerages

Horizon Bancorp (IN) (NASDAQ:HBNC) has received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $19.6667.

A number of equities research analysts recently commented on HBNC shares. Zacks Research cut shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Horizon Bancorp (IN) in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th.

Institutional Trading of Horizon Bancorp (IN)

A number of hedge funds have recently bought and sold shares of the company. Wedge Capital Management L L P NC grew its stake in Horizon Bancorp (IN) by 2.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 50,097 shares of the financial services provider’s stock worth $850,000 after acquiring an additional 1,193 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Horizon Bancorp (IN) by 11.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,525 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,492 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Horizon Bancorp (IN) by 452.9% during the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock worth $5,820,000 after purchasing an additional 297,799 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Horizon Bancorp (IN) by 1,240.5% in the third quarter. NewEdge Advisors LLC now owns 14,290 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 13,224 shares during the period. Finally, Verition Fund Management LLC grew its position in shares of Horizon Bancorp (IN) by 22.0% in the third quarter. Verition Fund Management LLC now owns 30,520 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 5,498 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock opened at $17.65 on Tuesday. The stock has a fifty day moving average price of $17.11 and a 200 day moving average price of $16.36. The stock has a market cap of $904.03 million, a PE ratio of -4.49 and a beta of 0.82. Horizon Bancorp has a 1 year low of $12.70 and a 1 year high of $18.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.16). The firm had revenue of $59.98 million during the quarter, compared to analyst estimates of $69.34 million. Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 10.01%. Sell-side analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.6%. Horizon Bancorp (IN)’s payout ratio is -16.28%.

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.