Horizon Bancorp (NASDAQ:HBNC) Price Target Raised to $19.00 at Keefe, Bruyette & Woods

Horizon Bancorp (NASDAQ:HBNC) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $17.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 4.97% from the stock’s previous close.

HBNC has been the topic of several other reports. Hovde Group began coverage on Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 price objective on the stock. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.75.

Horizon Bancorp Stock Down 0.9 %

NASDAQ:HBNC opened at $18.10 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $791.33 million, a P/E ratio of 38.51 and a beta of 1.05. Horizon Bancorp has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The firm has a 50-day simple moving average of $16.70 and a two-hundred day simple moving average of $14.90.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $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 return on equity of 8.27%. During the same quarter last year, the firm earned $0.37 earnings per share. Analysts predict that Horizon Bancorp will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Horizon Bancorp

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Horizon Bancorp by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after buying an additional 135,217 shares during the last quarter. Foundry Partners LLC raised its position in Horizon Bancorp by 46.0% in the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after acquiring an additional 57,240 shares during the period. Geode Capital Management LLC boosted its stake in shares of Horizon Bancorp by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock worth $16,387,000 after acquiring an additional 52,423 shares during the last quarter. AQR Capital Management LLC grew its position 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 valued at $5,915,000 after acquiring an additional 50,666 shares during the period. Finally, Barclays PLC increased its stake in shares of Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 42,218 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

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.