Horizon Bancorp (IN) (NASDAQ:HBNC) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Horizon Bancorp (IN) (NASDAQ:HBNC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.15 and traded as high as $17.58. Horizon Bancorp (IN) shares last traded at $17.46, with a volume of 201,712 shares trading hands.

Analysts Set New Price Targets

HBNC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Horizon Bancorp (IN) in a research note on Tuesday, December 2nd. Zacks Research lowered Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Stephens raised their target price on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Horizon Bancorp (IN) currently has an average rating of “Hold” and a consensus price target of $19.67.

Horizon Bancorp (IN) Price Performance

The business has a fifty day moving average price of $16.78 and a 200-day moving average price of $16.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $894.30 million, a PE ratio of -4.44 and a beta of 0.84.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). The firm had revenue of $59.98 million for the quarter, compared to analysts’ expectations of $69.34 million. Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 10.01%. Research analysts expect that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, January 2nd. Horizon Bancorp (IN)’s payout ratio is presently -16.28%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Horizon Bancorp (IN) by 9.5% during the third quarter. Vanguard Group Inc. now owns 3,012,969 shares of the financial services provider’s stock valued at $48,238,000 after buying an additional 261,587 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Horizon Bancorp (IN) by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock valued at $41,116,000 after acquiring an additional 75,462 shares during the last quarter. PL Capital Advisors LLC boosted its holdings in Horizon Bancorp (IN) by 13.4% during the 3rd quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock valued at $27,076,000 after acquiring an additional 200,000 shares during the period. Wellington Management Group LLP bought a new position in Horizon Bancorp (IN) during the 3rd quarter worth approximately $24,842,000. Finally, Geode Capital Management LLC increased its stake in Horizon Bancorp (IN) by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,096,524 shares of the financial services provider’s stock worth $16,868,000 after purchasing an additional 12,465 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

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.