Horizon Bancorp (IN) (NASDAQ:HBNC) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts give Horizon Bancorp an average rating of Hold from five firms (1 sell, 2 hold, 2 buy) with a 12‑month consensus price target of about $19.67.
• Horizon beat quarterly EPS estimates ($0.51 vs. $0.48) but missed revenue expectations and reported a positive ROE (11.77%) alongside a negative net margin (‑37.12%); the stock trades around $17.55, has a market cap near $899M, and pays a quarterly dividend of $0.16 (≈3.6% yield).

Shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) have been given an average rating of "Hold" by the five ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $19.6667.

HBNC has been the topic of a number of analyst reports. Stephens initiated coverage on Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an "overweight" rating and a $20.00 price target on the stock. Zacks Research raised Horizon Bancorp (IN) from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Weiss Ratings reissued a "sell (d+)" rating on shares of Horizon Bancorp (IN) in a research report on Friday, April 10th. Keefe, Bruyette & Woods boosted their price target on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Finally, Wall Street Zen raised Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC opened at $17.55 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. The business's 50 day moving average price is $16.97 and its 200-day moving average price is $16.94. Horizon Bancorp has a 52 week low of $14.04 and a 52 week high of $19.07. The stock has a market cap of $899.09 million, a P/E ratio of -5.57 and a beta of 0.80.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.77% and a negative net margin of 37.12%.The firm had revenue of $73.48 million for the quarter, compared to analysts' expectations of $76.11 million. Equities research analysts anticipate that Horizon Bancorp will post 2.05 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.64 annualized dividend and a yield of 3.6%. Horizon Bancorp (IN)'s dividend payout ratio is -20.32%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBNC. State of Alaska Department of Revenue bought a new position in Horizon Bancorp (IN) in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Horizon Bancorp (IN) by 65.6% in the 4th 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. Tower Research Capital LLC TRC lifted its position in Horizon Bancorp (IN) by 160.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider's stock valued at $101,000 after acquiring an additional 4,024 shares in the last quarter. Rossby Financial LCC bought a new position in Horizon Bancorp (IN) in the 4th quarter valued at approximately $124,000. Finally, Raymond James Financial Inc. bought a new position in Horizon Bancorp (IN) in the 2nd quarter valued at approximately $134,000. 64.51% of the stock is owned by institutional investors.

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.

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.