Separately, Zacks Investment Research raised Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Horizon Bancorp has an average rating of “Hold” and an average price target of $20.00.
HBNC stock traded up $0.27 during mid-day trading on Wednesday, reaching $17.01. 81,369 shares of the company’s stock were exchanged, compared to its average volume of 89,394. The company has a market cap of $766.47 million, a price-to-earnings ratio of 13.39 and a beta of 1.00. The stock’s 50 day moving average is $16.86 and its 200 day moving average is $16.42. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.96 and a quick ratio of 0.96. Horizon Bancorp has a 12-month low of $14.79 and a 12-month high of $18.87.
Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Horizon Bancorp had a return on equity of 10.10% and a net margin of 24.17%. The business had revenue of $52.43 million for the quarter, compared to the consensus estimate of $52.61 million. On average, research analysts forecast that Horizon Bancorp will post 1.57 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Asset Advisory Services LLC purchased a new position in Horizon Bancorp in the third quarter valued at $287,000. Susquehanna International Group LLP purchased a new position in Horizon Bancorp in the second quarter valued at $211,000. Nuveen Asset Management LLC purchased a new position in Horizon Bancorp in the second quarter valued at $3,343,000. UBS Asset Management Americas Inc. purchased a new stake in Horizon Bancorp during the 2nd quarter worth about $175,000. Finally, Citadel Advisors LLC lifted its holdings in Horizon Bancorp by 59.0% during the 2nd quarter. Citadel Advisors LLC now owns 25,992 shares of the financial services provider’s stock worth $425,000 after buying an additional 9,649 shares during the last quarter. 48.88% of the stock is owned by institutional investors and hedge funds.
About Horizon Bancorp
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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