Piper Sandler Issues Positive Forecast for Horizon Bancorp (IN) (NASDAQ:HBNC) Stock Price

Horizon Bancorp (IN) (NASDAQ:HBNC) had its price target upped by Piper Sandler from $17.00 to $18.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Friday, July 25th. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th.

Horizon Bancorp (IN) Trading Down 1.5%

Shares of NASDAQ HBNC opened at $15.74 on Monday. The stock has a market cap of $692.72 million, a price-to-earnings ratio of 13.45 and a beta of 0.84. The business has a 50 day simple moving average of $15.34 and a 200 day simple moving average of $15.47. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. The business had revenue of $66.27 million during the quarter, compared to analysts’ expectations of $66.45 million. Horizon Bancorp (IN) had a return on equity of 10.30% and a net margin of 13.84%. On average, research analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Thursday, July 3rd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently 54.70%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HBNC. Teacher Retirement System of Texas acquired a new position in shares of Horizon Bancorp (IN) in the fourth quarter valued at $669,000. Quantbot Technologies LP grew its position in Horizon Bancorp (IN) by 4,298.5% in the fourth quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 8,554 shares during the period. American Century Companies Inc. grew its position in Horizon Bancorp (IN) by 0.9% in the fourth quarter. American Century Companies Inc. now owns 568,469 shares of the financial services provider’s stock valued at $9,158,000 after acquiring an additional 5,129 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Horizon Bancorp (IN) in the fourth quarter valued at $143,000. Finally, Vanguard Group Inc. grew its position in Horizon Bancorp (IN) by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock valued at $39,506,000 after acquiring an additional 91,476 shares during the period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.