Horizon Bancorp (IN) (NASDAQ:HBNC) Given Consensus Recommendation of “Hold” by Brokerages

Horizon Bancorp (IN) (NASDAQ:HBNC) has earned a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $20.3333.

A number of research firms have recently weighed in on HBNC. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Zacks Research cut shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd.

Institutional Investors Weigh In On Horizon Bancorp (IN)

A number of institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC lifted its stake in Horizon Bancorp (IN) by 2.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 133,436 shares of the financial services provider’s stock worth $2,263,000 after acquiring an additional 3,459 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Horizon Bancorp (IN) by 35.5% during the fourth quarter. Rafferty Asset Management LLC now owns 44,132 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 11,574 shares during the period. First Trust Advisors LP increased its stake in Horizon Bancorp (IN) by 10.7% during the fourth quarter. First Trust Advisors LP now owns 182,124 shares of the financial services provider’s stock worth $3,089,000 after purchasing an additional 17,650 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Horizon Bancorp (IN) by 25.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 455,560 shares of the financial services provider’s stock worth $7,726,000 after purchasing an additional 93,468 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Horizon Bancorp (IN) by 19.9% in the fourth quarter. State Street Corp now owns 1,480,580 shares of the financial services provider’s stock valued at $25,111,000 after purchasing an additional 245,416 shares during the period. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Stock Performance

Horizon Bancorp (IN) stock opened at $18.01 on Friday. The firm has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $16.65. The stock has a market cap of $922.47 million, a price-to-earnings ratio of -5.72 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%. On average, analysts expect that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.6%. Horizon Bancorp (IN)’s payout ratio is presently -20.32%.

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.