Horizon Bancorp (NASDAQ:HBNC) Reaches New 12-Month High at $16.64

Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) reached a new 52-week high on Wednesday . The stock traded as high as $16.64 and last traded at $16.31, with a volume of 93531 shares. The stock had previously closed at $16.05.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com cut Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. Piper Sandler boosted their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Horizon Bancorp Stock Up 0.8 %

The firm’s 50 day simple moving average is $15.12 and its 200-day simple moving average is $13.16. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $713.80 million, a price-to-earnings ratio of 30.39 and a beta of 1.04.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The business had revenue of $97.47 million for the quarter, compared to the consensus estimate of $55.03 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. Equities analysts expect that Horizon Bancorp, Inc. will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Horizon Bancorp

A number of large investors have recently added to or reduced their stakes in HBNC. Dimensional Fund Advisors LP raised its holdings in shares of Horizon Bancorp by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock valued at $28,160,000 after purchasing an additional 135,217 shares during the period. PL Capital Advisors LLC raised its stake in Horizon Bancorp by 6.8% in the first quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider’s stock valued at $20,825,000 after buying an additional 103,084 shares during the period. LSV Asset Management lifted its position in shares of Horizon Bancorp by 6.7% in the first quarter. LSV Asset Management now owns 557,373 shares of the financial services provider’s stock valued at $7,151,000 after buying an additional 34,958 shares during the last quarter. AQR Capital Management LLC boosted its stake 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 worth $5,915,000 after acquiring an additional 50,666 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Horizon Bancorp by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider’s stock worth $4,222,000 after acquiring an additional 12,357 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

About Horizon Bancorp

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.