Weekly Research Analysts’ Ratings Changes for Horizon Bancorp (HBNC)

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

  • 6/21/2019 – Horizon Bancorp was upgraded by analysts at Zacks Investment Research from a “sell” 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. “
  • 6/21/2019 – Horizon Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/13/2019 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 6/7/2019 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 5/7/2019 – Horizon Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

NASDAQ HBNC opened at $15.89 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average price is $16.09. The company has a market cap of $714.99 million, a P/E ratio of 12.51 and a beta of 0.96. Horizon Bancorp Inc has a 1 year low of $14.79 and a 1 year high of $21.60.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $42.99 million during the quarter, compared to the consensus estimate of $41.93 million. Horizon Bancorp had a net margin of 24.71% and a return on equity of 10.18%. As a group, sell-side analysts anticipate that Horizon Bancorp Inc will post 1.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a dividend of $0.12 per share. This is an increase from Horizon Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, July 3rd. Horizon Bancorp’s dividend payout ratio is currently 31.50%.

In other news, President James D. Neff acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $15.77 per share, with a total value of $55,195.00. Following the acquisition, the president now owns 253,154 shares in the company, valued at $3,992,238.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in shares of Horizon Bancorp during the 1st quarter worth $26,000. Bank of Montreal Can boosted its holdings in shares of Horizon Bancorp by 1,727.7% during the 4th quarter. Bank of Montreal Can now owns 4,679 shares of the financial services provider’s stock worth $74,000 after buying an additional 4,423 shares during the period. Legal & General Group Plc boosted its holdings in shares of Horizon Bancorp by 18.8% during the 4th quarter. Legal & General Group Plc now owns 6,955 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,100 shares during the period. Claybrook Capital LLC bought a new stake in shares of Horizon Bancorp during the 4th quarter worth $110,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Horizon Bancorp by 445.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,706 shares of the financial services provider’s stock worth $124,000 after buying an additional 6,293 shares during the period. 46.10% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

Further Reading: Are sell-side analysts objective?

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