Horizon Bancorp (NASDAQ:HBNC) Shares Cross Above Two Hundred Day Moving Average of $12.95

Horizon Bancorp, Inc. (NASDAQ:HBNC)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.95 and traded as high as $16.03. Horizon Bancorp shares last traded at $15.87, with a volume of 99,174 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on HBNC. Piper Sandler boosted their price target on Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. StockNews.com lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods boosted their price target on Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Horizon Bancorp Price Performance

The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $14.64 and a two-hundred day simple moving average of $12.97. The stock has a market cap of $682.92 million, a price-to-earnings ratio of 28.67 and a beta of 1.04.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The company had revenue of $97.47 million during the quarter, compared to the consensus estimate of $55.03 million. During the same period in the previous year, the company posted $0.41 EPS. As a group, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.38 EPS for the current year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.64 annualized dividend and a yield of 4.13%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.

Institutional Trading of Horizon Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Horizon Bancorp in the 2nd quarter valued at $150,000. Pathway Financial Advisers LLC boosted its stake in Horizon Bancorp by 44.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,740 shares during the period. Creative Planning boosted its stake in Horizon Bancorp by 21.7% in the 2nd quarter. Creative Planning now owns 51,524 shares of the financial services provider’s stock valued at $637,000 after purchasing an additional 9,183 shares during the period. Mackenzie Financial Corp bought a new stake in Horizon Bancorp in the 2nd quarter valued at $133,000. Finally, AQR Capital Management LLC raised its holdings in Horizon Bancorp by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after acquiring an additional 50,666 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

About Horizon Bancorp

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.