Horizon Bancorp (IN) (NASDAQ:HBNC) Stock Rating Upgraded by Wall Street Zen

Horizon Bancorp (IN) (NASDAQ:HBNC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Other analysts also recently issued reports about the company. Stephens restated an “overweight” rating and issued a $21.00 price objective on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Piper Sandler reissued a “neutral” rating and set a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.00.

Horizon Bancorp (IN) Trading Up 0.5%

Shares of NASDAQ HBNC traded up $0.10 during trading hours on Friday, reaching $19.58. The stock had a trading volume of 484,092 shares, compared to its average volume of 844,038. Horizon Bancorp has a 52-week low of $14.84 and a 52-week high of $20.50. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -6.16 and a beta of 0.82. The business’s fifty day moving average price is $18.96 and its two-hundred day moving average price is $17.86. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $73.48 million for the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%. Analysts expect that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bayview Asset Management LLC raised its stake in shares of Horizon Bancorp (IN) by 0.7% during the 4th quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock valued at $1,619,000 after buying an additional 645 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in 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 valued at $28,000 after acquiring an additional 660 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Horizon Bancorp (IN) by 3.9% in the second quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 941 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Horizon Bancorp (IN) by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 1,057 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position 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 purchasing an additional 1,193 shares in the last quarter. Hedge funds and other institutional investors 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.