Horizon Bancorp (NASDAQ:HBNC) Rating Increased to Hold at StockNews.com

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.

Several other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th. Hovde Group began coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They issued an "outperform" rating and a $18.00 target price for the company. Finally, Piper Sandler increased their target price on shares of Horizon Bancorp from $13.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Horizon Bancorp has an average rating of "Hold" and a consensus target price of $16.00.

Horizon Bancorp Stock Up 0.6 %

Shares of NASDAQ:HBNC traded up $0.09 during trading on Friday, hitting $16.11. The company's stock had a trading volume of 140,726 shares, compared to its average volume of 159,510. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp has a fifty-two week low of $9.51 and a fifty-two week high of $16.72. The stock's 50-day moving average price is $15.57 and its two-hundred day moving average price is $13.91. The company has a market capitalization of $704.17 million, a PE ratio of 34.28 and a beta of 1.04.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.36% and a net margin of 5.89%. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $58.23 million. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts expect that Horizon Bancorp will post 1.41 EPS for the current year.

Institutional Trading of Horizon Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning increased its stake in Horizon Bancorp by 8.1% in the 3rd quarter. Creative Planning now owns 55,679 shares of the financial services provider's stock valued at $866,000 after buying an additional 4,155 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Horizon Bancorp during the 3rd quarter worth about $414,000. CWM LLC boosted its holdings in shares of Horizon Bancorp by 114.2% during the 3rd quarter. CWM LLC now owns 6,958 shares of the financial services provider's stock worth $108,000 after buying an additional 3,709 shares during the period. SG Americas Securities LLC boosted its holdings in Horizon Bancorp by 34.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,556 shares of the financial services provider's stock valued at $335,000 after purchasing an additional 5,544 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Horizon Bancorp in the 2nd quarter valued at about $150,000. Institutional investors and hedge funds 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.