Horizon Bancorp (HBNC) Stock Price, News & Analysis

Company Overview

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. It also provides commercial, residential real estate, mortgage, home equity, auto, personal, business, agricultural, and SBA loans, as well as credit cards. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; debit cards; treasury management; online and mobile banking; wealth, retirement, and estate and trust services; and sells various insurance products. It operates through full-service offices in northern and central Indiana and southern and central Michigan. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.

Key Stats

• Today's Range: $18.13 to $18.65
• 50-Day Range: $14.57 to $18.76
• 52-Week Range: $10.65 to $18.85
• Volume: 165,096 shs
• Average Volume: 180,582 shs
• Market Capitalization: $798.76 million
• P/E Ratio: 38.87
• Dividend Yield: 3.50%
• Price Target: $16.00
• Consensus Rating: Moderate Buy

Horizon Bancorp Stock Analysis - MarketRank™

Horizon Bancorp scored higher than 84% of companies evaluated by MarketBeat, and ranked 234th out of 963 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Horizon Bancorp has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 2 buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Horizon Bancorp has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 18.57%

Earnings Growth

Earnings for Horizon Bancorp are expected to grow by 18.57% in the coming year, from $1.40 to $1.66 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Horizon Bancorp is 38.87, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 110.87.

Price to Earnings Ratio vs. Sector

The P/E ratio of Horizon Bancorp is 38.87, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 26.17.

Price to Book Value per Share Ratio

Horizon Bancorp has a P/B Ratio of 1.06. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.35% of the float of Horizon Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Horizon Bancorp has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Horizon Bancorp has recently increased by 4.18%, indicating that investor sentiment is decreasing.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Yield

Horizon Bancorp pays a meaningful dividend of 3.50%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Horizon Bancorp has been increasing its dividend for 13 years.

Dividend Coverage

The dividend payout ratio of Horizon Bancorp is 136.17%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, Horizon Bancorp will have a dividend payout ratio of 38.55% next year. This indicates that Horizon Bancorp will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 3.3 / 5
• Environmental Score: -0.61

Percentage of Shares Shorted

1.35% of the float of Horizon Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Horizon Bancorp has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Horizon Bancorp has recently increased by 4.18%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.3 / 5
• News Sentiment: 1.09

News Sentiment

Horizon Bancorp has a news sentiment score of 1.09. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.68 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Horizon Bancorp this week, compared to 2 articles on an average week.

Search Interest

Only 1 people have searched for HBNC on MarketBeat in the last 30 days. This is a decrease of -80% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Horizon Bancorp insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 2.79% of the stock of Horizon Bancorp is held by insiders.

Percentage Held by Institutions

64.51% of the stock of Horizon Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

HBNC Stock Analysis - Frequently Asked Questions

How have HBNC shares performed this year?

Horizon Bancorp's stock was trading at $14.31 at the beginning of the year. Since then, HBNC stock has increased by 27.7% and is now trading at $18.27.
View the best growth stocks for 2024 here.

How were Horizon Bancorp's earnings last quarter?

Horizon Bancorp, Inc. (NASDAQ:HBNC) posted its quarterly earnings data on Wednesday, October, 23rd. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The financial services provider had revenue of $102.40 million for the quarter, compared to analysts' expectations of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a trailing twelve-month return on equity of 8.27%.

When did Horizon Bancorp's stock split?

Horizon Bancorp shares split before market open on Monday, June 18th 2018. The 3-2 split was announced on Wednesday, May 16th 2018. The newly issued shares were issued to shareholders after the market closes on Friday, June 15th 2018. An investor that had 100 shares of stock prior to the split would have 150 shares after the split.

Who are Horizon Bancorp's major shareholders?

Horizon Bancorp's top institutional shareholders include PL Capital Advisors LLC (3.34%), State Street Corp (2.52%), Geode Capital Management LLC (2.41%) and The Manufacturers Life Insurance Company (2.07%). Insiders that own company stock include Craig M Dwight, Susan D Aaron, Todd A Etzler and James D Neff.
View institutional ownership trends.

How do I buy shares of Horizon Bancorp?

Shares of HBNC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Horizon Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Horizon Bancorp investors own include American Water Works (AWK), Waste Connections (WCN), The RMR Group (RMR), AUO (AUOTY), DiamondRock Hospitality (DRH), Voyager Therapeutics (VYGR) and iShares Micro-Cap ETF (IWC).

Company Calendar

• Ex-Dividend for 10/18 Dividend: 10/04/2024
• Dividend Payable: 10/18/2024
• Last Earnings: 10/23/2024
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/22/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NASDAQ:HBNC
• CUSIP: 44040710
• CIK: 706129
• Web: www.horizonbank.com
• Phone: (219) 879-0211
• Fax: 219-874-9305
• Employees: 818
• Year Founded: 1873

Price Target and Rating

• Average Stock Price Target: $16.00
• High Stock Price Target: $18.00
• Low Stock Price Target: $12.00
• Potential Upside/Downside: -12.4%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.50
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.47
• Trailing P/E Ratio: 38.87
• Forward P/E Ratio: 13.05
• P/E Growth: N/A
• Net Income: $27.98 million
• Net Margins: 5.89%
• Pretax Margin: 8.51%
• Return on Equity: 8.27%
• Return on Assets: 0.76%

Debt

• Debt-to-Equity Ratio: 1.83
• Current Ratio: 0.88
• Quick Ratio: 0.88

Sales & Book Value

• Annual Sales: $324.30 million
• Price / Sales: 2.46
• Cash Flow: $2.01 per share
• Price / Cash Flow: 9.10
• Book Value: $17.27 per share
• Price / Book: 1.06

Miscellaneous

• Outstanding Shares: 43,720,000
• Free Float: 42,495,000
• Market Cap: $798.76 million
• Optionable: Optionable
• Beta: 1.03