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: $16.68 to $17.62
• 50-Day Range: $14.61 to $18.76
• 52-Week Range: $11.18 to $19.18
• Volume: 104,950 shs
• Average Volume: 161,404 shs
• Market Capitalization: $729.17 million
• P/E Ratio: 35.49
• Dividend Yield: 3.84%
• Price Target: $18.33
• Consensus Rating: Hold

Horizon Bancorp Stock Analysis - MarketRank™

Horizon Bancorp scored higher than 87% of companies evaluated by MarketBeat, and ranked 190th out of 959 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: 1.2 / 5
• Analyst Rating: Hold

Consensus Rating

Horizon Bancorp has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 1 buy rating, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Horizon Bancorp has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 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 36.98, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 135.63.

Price to Earnings Ratio vs. Sector

The P/E ratio of Horizon Bancorp is 36.98, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 49.04.

Price to Book Value per Share Ratio

Horizon Bancorp has a P/B Ratio of 1.07. 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

1.51% 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 3.9, 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 13.65%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 4.2 / 5
• Dividend Strength: Strong

Dividend Leadership

Horizon Bancorp is a leading dividend payer. It pays a dividend yield of 3.63%, putting its dividend yield in the top 25% of dividend-paying stocks.

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

1.51% 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 3.9, 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 13.65%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.3 / 5
• News Sentiment: N/A

News Sentiment

Horizon Bancorp has a news sentiment score of 0.29. 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 lower news sentiment than the 0.74 average news sentiment score of Finance companies.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Horizon Bancorp insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $10,614.00 in 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 start of the year. Since then, HBNC shares have increased by 21.5% and is now trading at $17.38.
View the best growth stocks for 2024 here.

How were Horizon Bancorp's earnings last quarter?

Horizon Bancorp, Inc. (NASDAQ:HBNC) posted its earnings results on Wednesday, October, 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. The financial services provider earned $102.40 million during the quarter, compared to the consensus estimate 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 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?

Top institutional investors of Horizon Bancorp 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: 12/18/2024
• Fiscal Year End: 12/31/2024

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: $18.33
• High Stock Price Target: $19.00
• Low Stock Price Target: $18.00
• Potential Upside/Downside: +5.5%
• Consensus Rating: Hold
• Rating Score (0-4): 2.33
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.47
• Trailing P/E Ratio: 36.98
• Forward P/E Ratio: 12.41
• 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: $185.07 million
• Price / Sales: 4.11
• Cash Flow: $1.96 per share
• Price / Cash Flow: 8.85
• Book Value: $16.29 per share
• Price / Book: 1.07

Miscellaneous

• Outstanding Shares: 43,715,000
• Free Float: 42,495,000
• Market Cap: $759.77 million
• Optionable: Optionable
• Beta: 1.05