Brokerages Set Horizon Bancorp (IN) (NASDAQ:HBNC) PT at $20.67

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been assigned an average rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.6667.

HBNC has been the subject of several recent research reports. Stephens assumed coverage on shares of Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an “overweight” rating and a $20.00 price target for the company. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Wall Street Zen lowered shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC opened at $18.34 on Monday. The stock’s 50-day moving average is $17.33 and its 200-day moving average is $17.27. Horizon Bancorp has a 1-year low of $14.34 and a 1-year high of $19.07. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The stock has a market cap of $941.39 million, a P/E ratio of -5.77 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings data 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. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The business had revenue of $73.48 million during the quarter, compared to analyst estimates of $76.11 million. Equities research analysts anticipate that Horizon Bancorp will post 2.1 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s payout ratio is -20.13%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

A number of hedge funds have recently modified their holdings of the business. Bayview Asset Management LLC lifted its holdings in shares of Horizon Bancorp (IN) by 0.7% during the fourth quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock worth $1,619,000 after purchasing an additional 645 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Horizon Bancorp (IN) by 65.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of Horizon Bancorp (IN) by 3.9% during the second quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 941 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Horizon Bancorp (IN) by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 1,057 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Horizon Bancorp (IN) by 2.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 50,097 shares of the financial services provider’s stock worth $850,000 after purchasing an additional 1,193 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

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.