Horizon Bancorp (NASDAQ:HBNC) Hits New 1-Year High at $14.72

Horizon Bancorp, Inc. (NASDAQ:HBNC)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $14.72 and last traded at $14.72, with a volume of 90775 shares. The stock had previously closed at $14.10.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Piper Sandler dropped their price target on shares of Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th.

Horizon Bancorp Price Performance

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.04. The stock has a market cap of $650.33 million, a P/E ratio of 27.91 and a beta of 1.05. The firm has a 50 day moving average price of $12.34 and a 200 day moving average price of $12.46.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Horizon Bancorp had a net margin of 7.02% and a return on equity of 8.71%. The company had revenue of $53.22 million during the quarter, compared to analyst estimates of $53.90 million. On average, analysts forecast that Horizon Bancorp, Inc. will post 1.31 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, July 5th. This represents a $0.64 annualized dividend and a dividend yield of 4.34%. Horizon Bancorp’s payout ratio is 118.52%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Lauer Wealth LLC purchased a new position in shares of Horizon Bancorp in the second quarter valued at about $214,000. SG Americas Securities LLC purchased a new stake in shares of Horizon Bancorp during the second quarter worth about $198,000. CWM LLC raised its stake in Horizon Bancorp by 1,656.2% during the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 3,064 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Horizon Bancorp in the 2nd quarter worth approximately $446,000. Finally, Pathway Financial Advisers LLC bought a new position in Horizon Bancorp in the 1st quarter worth approximately $80,000. Institutional investors 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.