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

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $20.6667.

HBNC has been the subject of several research analyst reports. Piper Sandler restated a “neutral” rating and issued 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 shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Finally, Stephens initiated 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 objective for the company.

Institutional Trading of Horizon Bancorp (IN)

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Horizon Bancorp (IN) by 65.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 660 shares during the period. Royal Bank of Canada grew its holdings in Horizon Bancorp (IN) by 93.5% during the 1st quarter. Royal Bank of Canada now owns 2,873 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,388 shares during the period. Tower Research Capital LLC TRC grew its holdings in Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 4,024 shares during the period. Rossby Financial LCC acquired a new stake in Horizon Bancorp (IN) during the 4th quarter worth $124,000. Finally, Raymond James Financial Inc. acquired a new stake in Horizon Bancorp (IN) during the 2nd quarter worth $134,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

HBNC stock opened at $19.43 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. The company has a 50 day moving average price of $18.23 and a 200 day moving average price of $17.61. Horizon Bancorp has a fifty-two week low of $14.34 and a fifty-two week high of $19.93. The stock has a market capitalization of $997.34 million, a PE ratio of -6.11 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Analysts forecast that Horizon Bancorp will post 2.1 EPS for the current year.

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.