Horizon Bancorp (IN) (NASDAQ:HBNC) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Horizon Bancorp (IN) stock has crossed above its 200-day moving average, indicating a potential upward trend, with shares last trading at $15.95.
• Analysts have varied recommendations for the stock; Piper Sandler has increased the price target to $18.00 while Wall Street Zen downgraded it from "buy" to "hold."
• The company has declared a quarterly dividend of $0.16 per share, yielding 4.0% annually, with a payout ratio of 54.70%.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.43 and traded as high as $16.25. Horizon Bancorp (IN) shares last traded at $15.95, with a volume of 267,057 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods lifted their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Finally, Piper Sandler increased their price target on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.00.

Horizon Bancorp (IN) Stock Up 0.1%

The firm's fifty day moving average is $15.53 and its two-hundred day moving average is $15.40. The firm has a market cap of $707.36 million, a price-to-earnings ratio of 13.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.76 and a quick ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. The firm had revenue of $66.27 million for the quarter, compared to analysts' expectations of $66.45 million. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.21%. On average, sell-side analysts expect that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, July 3rd. Horizon Bancorp (IN)'s dividend payout ratio is 54.70%.

Institutional Trading of Horizon Bancorp (IN)

Hedge funds and other institutional investors have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in Horizon Bancorp (IN) during the fourth quarter worth about $51,000. Quarry LP boosted its position in shares of Horizon Bancorp (IN) by 64.4% during the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,352 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Horizon Bancorp (IN) in the 4th quarter worth approximately $82,000. Tower Research Capital LLC TRC grew its stake in shares of 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 worth $101,000 after purchasing an additional 4,024 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Horizon Bancorp (IN) in the 2nd quarter worth approximately $134,000. Institutional investors own 64.51% of the company's stock.

About Horizon Bancorp (IN)

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.