Horizon Bancorp (NASDAQ:HBNC) Price Target Lowered to $17.00 at Piper Sandler

Horizon Bancorp (NASDAQ:HBNC) had its target price reduced by Piper Sandler from $18.00 to $17.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods reduced their price target on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Friday.

Horizon Bancorp Trading Up 1.2 %

Shares of HBNC stock opened at $14.74 on Monday. Horizon Bancorp has a 12-month low of $11.40 and a 12-month high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The business has a 50-day moving average price of $14.98 and a two-hundred day moving average price of $16.20. The firm has a market cap of $648.78 million, a P/E ratio of 18.43 and a beta of 0.87.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The company had revenue of $69.17 million during the quarter, compared to analyst estimates of $64.52 million. Equities analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.16 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.34%. Horizon Bancorp’s dividend payout ratio is currently 62.75%.

Institutional Trading of Horizon Bancorp

Hedge funds have recently made changes to their positions in the stock. PL Capital Advisors LLC lifted its position in Horizon Bancorp by 1,521.9% in the 4th quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock valued at $384,931,000 after acquiring an additional 22,420,759 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Horizon Bancorp by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,464,189 shares of the financial services provider’s stock valued at $39,698,000 after purchasing an additional 81,943 shares during the period. Vanguard Group Inc. grew its stake in shares of Horizon Bancorp by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock valued at $39,506,000 after purchasing an additional 91,476 shares during the period. Geode Capital Management LLC grew 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 valued at $16,387,000 after purchasing an additional 52,423 shares during the period. Finally, LSV Asset Management grew its stake in shares of Horizon Bancorp by 11.7% during the 4th quarter. LSV Asset Management now owns 614,055 shares of the financial services provider’s stock valued at $9,892,000 after purchasing an additional 64,532 shares during the period. 64.51% 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 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.