Investment Analysts’ Recent Ratings Updates for Horizon Bancorp (HBNC)

Several analysts have recently updated their ratings and price targets for Horizon Bancorp (NASDAQ: HBNC):

  • 4/6/2018 – Horizon Bancorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/31/2018 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
  • 3/29/2018 – Horizon Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $34.00 price target on the stock. According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
  • 3/28/2018 – Horizon Bancorp was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 3/24/2018 – Horizon Bancorp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/1/2018 – Horizon Bancorp was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 2/27/2018 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
  • 2/15/2018 – Horizon Bancorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of NASDAQ:HBNC traded up $0.60 during trading on Tuesday, reaching $29.74. The stock had a trading volume of 54,555 shares, compared to its average volume of 83,327. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01. Horizon Bancorp has a 52 week low of $24.54 and a 52 week high of $31.14. The firm has a market cap of $750.21, a P/E ratio of 19.44 and a beta of 1.05.

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Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.06). Horizon Bancorp had a net margin of 20.49% and a return on equity of 9.28%. The firm had revenue of $40.80 million during the quarter, compared to the consensus estimate of $40.73 million. sell-side analysts anticipate that Horizon Bancorp will post 2.14 earnings per share for the current year.



The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, April 6th will be paid a $0.15 dividend. This is a positive change from Horizon Bancorp’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, April 5th. Horizon Bancorp’s dividend payout ratio is currently 39.22%.

In other news, insider Dennis Kuhn sold 7,500 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the sale, the insider now directly owns 7,500 shares of the company’s stock, valued at approximately $225,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SWS Partners bought a new position in Horizon Bancorp during the fourth quarter worth $1,895,000. MetLife Investment Advisors LLC bought a new position in Horizon Bancorp during the fourth quarter worth $270,000. Millennium Management LLC boosted its stake in Horizon Bancorp by 216.8% during the fourth quarter. Millennium Management LLC now owns 25,632 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 17,541 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Horizon Bancorp by 12.8% in the fourth quarter. TIAA CREF Investment Management LLC now owns 88,740 shares of the financial services provider’s stock valued at $2,467,000 after buying an additional 10,101 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Horizon Bancorp by 7.0% in the fourth quarter. California State Teachers Retirement System now owns 36,464 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 2,400 shares in the last quarter. 48.72% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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