Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.96, but opened at $15.35. Horizon Bancorp (IN) shares last traded at $15.59, with a volume of 107,057 shares trading hands.
Analysts Set New Price Targets
Several equities research analysts recently commented on HBNC shares. Stephens boosted their target price on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Wall Street Zen cut Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Horizon Bancorp (IN) in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $18.00 to $19.00 in a report on Tuesday, August 26th. Finally, Piper Sandler boosted their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.67.
Get Our Latest Stock Analysis on Horizon Bancorp (IN)
Horizon Bancorp (IN) Stock Performance
The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.14. The stock has a market cap of $808.89 million, a price-to-earnings ratio of 13.56 and a beta of 0.81. The company's 50-day simple moving average is $16.12 and its 200-day simple moving average is $15.40.
Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.03. The firm had revenue of $66.27 million for the quarter, compared to analyst estimates of $66.45 million. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.21%. Analysts predict that Horizon Bancorp will post 1.78 EPS for the current fiscal year.
Horizon Bancorp (IN) Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were given a $0.16 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.64 annualized dividend and a yield of 4.0%. Horizon Bancorp (IN)'s payout ratio is 54.70%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in HBNC. Meritage Portfolio Management grew its position in Horizon Bancorp (IN) by 5.5% in the first quarter. Meritage Portfolio Management now owns 23,491 shares of the financial services provider's stock worth $354,000 after buying an additional 1,231 shares during the last quarter. Lauer Wealth LLC purchased a new position in Horizon Bancorp (IN) during the 1st quarter worth approximately $227,000. Victory Capital Management Inc. purchased a new position in Horizon Bancorp (IN) during the 1st quarter worth approximately $995,000. Segall Bryant & Hamill LLC grew its position in Horizon Bancorp (IN) by 29.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 146,752 shares of the financial services provider's stock worth $2,213,000 after purchasing an additional 33,379 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Horizon Bancorp (IN) during the 1st quarter worth approximately $348,000. Institutional investors and hedge funds own 64.51% of the company's stock.
About Horizon Bancorp (IN)
(
Get Free Report)
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.
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