Horizon Bancorp (HBNC) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Horizon Bancorp (NASDAQ:HBNC) from a sell rating to a strong sell rating in a report issued on Tuesday morning.

Several other research firms have also recently commented on HBNC. Stephens reaffirmed a buy rating and issued a $24.00 price target on shares of Horizon Bancorp in a report on Friday, July 27th. Zacks Investment Research raised Horizon Bancorp from a sell rating to a hold rating and set a $24.00 price target for the company in a report on Wednesday, August 1st. Finally, ValuEngine cut Horizon Bancorp from a hold rating to a sell rating in a report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $22.50.

Shares of NASDAQ:HBNC traded up $0.21 during midday trading on Tuesday, hitting $16.86. The company had a trading volume of 2,505 shares, compared to its average volume of 98,465. Horizon Bancorp has a twelve month low of $16.36 and a twelve month high of $22.13. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $679.02 million, a PE ratio of 16.66 and a beta of 0.90.



Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Horizon Bancorp had a return on equity of 10.03% and a net margin of 23.28%. The firm had revenue of $42.48 million during the quarter, compared to analysts’ expectations of $42.33 million. As a group, analysts predict that Horizon Bancorp will post 1.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, October 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $0.40 annualized dividend and a dividend yield of 2.37%. Horizon Bancorp’s dividend payout ratio is presently 39.22%.

In other Horizon Bancorp news, insider Dennis Kuhn sold 5,841 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $20.72, for a total transaction of $121,025.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry N. Middleton sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.69, for a total value of $51,725.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Horizon Bancorp by 66.7% during the second quarter. BlackRock Inc. now owns 2,162,231 shares of the financial services provider’s stock worth $44,735,000 after acquiring an additional 864,841 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Horizon Bancorp by 61.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,492 shares of the financial services provider’s stock worth $30,197,000 after acquiring an additional 557,868 shares during the last quarter. PL Capital Advisors LLC increased its stake in Horizon Bancorp by 50.0% during the second quarter. PL Capital Advisors LLC now owns 1,333,712 shares of the financial services provider’s stock worth $27,595,000 after acquiring an additional 444,570 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in Horizon Bancorp by 42.6% during the second quarter. Epoch Investment Partners Inc. now owns 1,107,627 shares of the financial services provider’s stock worth $22,917,000 after acquiring an additional 330,742 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Horizon Bancorp by 99.2% during the second quarter. Renaissance Technologies LLC now owns 935,110 shares of the financial services provider’s stock worth $19,347,000 after acquiring an additional 465,769 shares during the last quarter. 52.82% of the stock is owned by institutional investors.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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