Horizon Bancorp, Inc. (NASDAQ:HBNC - Get Free Report) saw strong trading volume on Friday . 126,211 shares were traded during mid-day trading, a decline of 21% from the previous session's volume of 159,388 shares.The stock last traded at $15.84 and had previously closed at $15.87.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Piper Sandler increased their price objective 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. Hovde Group began coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They set an "outperform" rating and a $18.00 price target for the company. StockNews.com upgraded shares of Horizon Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a "market perform" rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Horizon Bancorp currently has a consensus rating of "Hold" and an average price target of $16.00.
Check Out Our Latest Research Report on HBNC
Horizon Bancorp Price Performance
The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The firm's 50-day moving average is $15.33 and its 200-day moving average is $13.61. The company has a market cap of $691.74 million, a PE ratio of 29.15 and a beta of 1.04.
Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.17%. The firm had revenue of $97.47 million for the quarter, compared to the consensus estimate of $55.03 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts anticipate that Horizon Bancorp, Inc. will post 1.38 EPS for the current year.
Horizon Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.08%. Horizon Bancorp's dividend payout ratio is 118.52%.
Hedge Funds Weigh In On Horizon Bancorp
Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Horizon Bancorp by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider's stock valued at $28,160,000 after buying an additional 135,217 shares during the period. PL Capital Advisors LLC raised its stake in shares of Horizon Bancorp by 6.8% during the 1st quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider's stock worth $20,825,000 after acquiring an additional 103,084 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Horizon Bancorp by 88,223.7% during the 1st quarter. Blue Trust Inc. now owns 67,126 shares of the financial services provider's stock worth $861,000 after acquiring an additional 67,050 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Horizon Bancorp by 11.9% during the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider's stock worth $5,915,000 after acquiring an additional 50,666 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in Horizon Bancorp by 67.6% during the 2nd quarter. Foundry Partners LLC now owns 124,360 shares of the financial services provider's stock valued at $1,538,000 after purchasing an additional 50,143 shares in the last quarter. Institutional investors own 64.51% of the company's stock.
About Horizon Bancorp
(
Get Free Report)
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.
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