Horizon Bancorp (IN) (HBNC) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on Horizon Bancorp, with three buy ratings and two hold ratings. The average 12-month price target is $24.
• In its latest quarter, Horizon reported EPS of $0.56, beating the $0.54 consensus, while revenue of $77.09 million came in below analysts’ $77.99 million estimate.
• The company pays a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a 3.1% yield.

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.00.

Several research analysts have recently issued reports on HBNC shares. Wall Street Zen raised Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a research note on Sunday, August 16th. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Stephens raised their price target on shares of Horizon Bancorp (IN) from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Monday, October 26th. Piper Sandler reiterated an "overweight" rating and set a $25.00 price target (up from $24.00) on shares of Horizon Bancorp (IN) in a report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several large investors have recently modified their holdings of HBNC. Allworth Financial LP acquired a new position in Horizon Bancorp (IN) in the second quarter valued at approximately $31,000. Integrated Wealth Concepts LLC bought a new position in Horizon Bancorp (IN) during the second quarter worth $52,000. Royal Bank of Canada boosted its stake in Horizon Bancorp (IN) by 93.5% during the first 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 in the last quarter. Quantbot Technologies LP acquired a new stake in Horizon Bancorp (IN) in the second quarter worth $70,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Horizon Bancorp (IN) during the third quarter valued at about $138,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC opened at $20.81 on Monday. The stock has a market cap of $1.07 billion, a P/E ratio of 9.96 and a beta of 0.82. The stock has a 50 day simple moving average of $19.73 and a 200 day simple moving average of $18.78. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. Horizon Bancorp has a 1-year low of $15.43 and a 1-year high of $22.00.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Horizon Bancorp (IN) had a net margin of 26.52% and a return on equity of 15.14%. The company had revenue of $77.09 million during the quarter, compared to analysts' expectations of $77.99 million. Research analysts anticipate that Horizon Bancorp will post 2.10 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a dividend of $0.16 per share. The ex-dividend date was Friday, October 2nd. This represents a $0.64 annualized dividend and a yield of 3.1%. Horizon Bancorp (IN)'s dividend payout ratio (DPR) is presently 30.62%.

About Horizon Bancorp (IN)

Horizon Bancorp, Inc is a bank holding company headquartered in Michigan City, Indiana. Through its principal subsidiary, Horizon Bank, the company provides banking and financial services to individuals, families, businesses and public-sector organizations.

Horizon Bank offers deposit accounts, consumer and commercial lending, residential mortgage services, cash-management and treasury-management solutions, online and mobile banking, and other customary banking products. Its lending activities include commercial real estate, business, residential real estate and consumer loans.

Founded in 1873, Horizon has developed as a community banking organization serving customers through branches and other delivery channels in northern and central Indiana and southwestern Michigan.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.