Today: The Analysts Set Horizon Bancorp (NASDAQ:HBNC) Target Price at $30.83

The Analysts Set Horizon Bancorp (NASDAQ:HBNC) Target Price at $30.83

Shares of Horizon Bancorp (NASDAQ:HBNC) have been assigned an average rating of “Buy” from the six research firms that are covering the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $30.83.

HBNC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods boosted their target price on shares of Horizon Bancorp from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Piper Jaffray Cos. initiated coverage on shares of Horizon Bancorp in a research note on Thursday. They issued an “overweight” rating and a $33.50 target price for the company.

Shares of Horizon Bancorp (NASDAQ:HBNC) opened at 29.67 on Thursday. Horizon Bancorp has a 52-week low of $21.92 and a 52-week high of $30.08. The firm has a 50-day moving average of $28.53 and a 200-day moving average of $26.07. The stock has a market cap of $438.40 million, a P/E ratio of 16.22 and a beta of 0.49.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 27th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Horizon Bancorp had a net margin of 17.13% and a return on equity of 9.48%. On average, equities analysts expect that Horizon Bancorp will post $2.12 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, October 5th. Horizon Bancorp’s dividend payout ratio (DPR) is 32.79%.

In related news, insider Thomas H. Edwards sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $27.65, for a total transaction of $276,500.00. Following the completion of the sale, the insider now directly owns 10,097 shares of the company’s stock, valued at $279,182.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in Horizon Bancorp by 7.4% in the first quarter. State Street Corp now owns 143,383 shares of the financial services provider’s stock worth $3,543,000 after buying an additional 9,868 shares during the period. Geode Capital Management LLC boosted its position in shares of Horizon Bancorp by 1.3% in the first quarter. Geode Capital Management LLC now owns 61,238 shares of the financial services provider’s stock worth $1,513,000 after buying an additional 760 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Horizon Bancorp by 215.2% in the first quarter. Wellington Management Group LLP now owns 410,474 shares of the financial services provider’s stock worth $10,146,000 after buying an additional 280,256 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Horizon Bancorp by 5.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,808 shares of the financial services provider’s stock worth $218,000 after buying an additional 483 shares in the last quarter. Finally, Foundry Partners LLC boosted its position in shares of Horizon Bancorp by 0.3% in the second quarter. Foundry Partners LLC now owns 115,920 shares of the financial services provider’s stock worth $2,914,000 after buying an additional 375 shares in the last quarter. 36.09% of the stock is owned by institutional investors and hedge funds.

Related posts

Leave a Comment