Horizon Bancorp (NASDAQ:HBNC) Price Target Lowered to $13.00 at Piper Sandler

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) had its target price decreased by Piper Sandler from $14.00 to $13.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price objective would suggest a potential upside of 12.65% from the company's current price.

Separately, StockNews.com downgraded shares of Horizon Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, April 10th.

Horizon Bancorp Stock Down 1.0 %

Horizon Bancorp stock traded down $0.12 during trading hours on Monday, reaching $11.54. The stock had a trading volume of 230,716 shares, compared to its average volume of 161,679. Horizon Bancorp has a 52 week low of $7.69 and a 52 week high of $14.71. The company has a market cap of $509.03 million, a price-to-earnings ratio of 21.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.70 and a quick ratio of 0.70. The business's 50 day moving average price is $12.05 and its 200-day moving average price is $12.12.

Hedge Funds Weigh In On Horizon Bancorp

Several hedge funds have recently modified their holdings of the stock. Harbour Trust & Investment Management Co purchased a new stake in Horizon Bancorp in the fourth quarter valued at approximately $6,167,000. Swiss National Bank lifted its holdings in Horizon Bancorp by 2.2% in the third quarter. Swiss National Bank now owns 96,950 shares of the financial services provider's stock valued at $1,035,000 after acquiring an additional 2,100 shares during the period. 1ST Source Bank grew its stake in shares of Horizon Bancorp by 2.7% during the 3rd quarter. 1ST Source Bank now owns 69,533 shares of the financial services provider's stock worth $743,000 after purchasing an additional 1,860 shares during the period. Vanguard Group Inc. increased its holdings in shares of Horizon Bancorp by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider's stock valued at $23,325,000 after purchasing an additional 34,861 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Horizon Bancorp by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider's stock valued at $6,780,000 after purchasing an additional 44,810 shares during the period. Institutional investors and hedge funds own 64.51% of the company's stock.

Horizon Bancorp Company Profile

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.