Horizon Bancorp (NASDAQ:HBNC) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Horizon Bancorp, Inc. (NASDAQ:HBNC - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.45 and traded as high as $16.87. Horizon Bancorp shares last traded at $16.31, with a volume of 268,371 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on HBNC shares. Piper Sandler decreased their price target on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Horizon Bancorp Stock Performance

The firm has a 50 day moving average price of $16.47 and a 200-day moving average price of $16.46. The company has a market cap of $698.13 million, a P/E ratio of 19.96 and a beta of 1.05. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. On average, research analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

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Horizon Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 4.01%. Horizon Bancorp's payout ratio is 80.00%.

Institutional Trading of Horizon Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Horizon Bancorp during the 4th quarter valued at approximately $1,348,000. PharVision Advisers LLC acquired a new position in Horizon Bancorp in the 4th quarter valued at approximately $235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Horizon Bancorp by 7.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,369 shares of the financial services provider's stock valued at $1,907,000 after acquiring an additional 7,921 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in Horizon Bancorp by 14.2% in the 4th quarter. Rafferty Asset Management LLC now owns 31,297 shares of the financial services provider's stock valued at $504,000 after acquiring an additional 3,881 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Horizon Bancorp in the 4th quarter valued at approximately $82,000. 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.