Horizon Bancorp (NASDAQ:HBNC – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.
HBNC has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Piper Sandler lifted their target price on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 29th.
Read Our Latest Research Report on HBNC
Horizon Bancorp Price Performance
Horizon Bancorp (NASDAQ:HBNC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $97.47 million during the quarter, compared to analyst estimates of $55.03 million. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, equities research analysts anticipate that Horizon Bancorp will post 1.38 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of HBNC. CWM LLC grew its stake in Horizon Bancorp by 1,656.2% in the second quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 3,064 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Horizon Bancorp in the first quarter worth about $80,000. Mackenzie Financial Corp acquired a new stake in shares of Horizon Bancorp in the second quarter worth about $133,000. Elser Financial Planning Inc acquired a new stake in shares of Horizon Bancorp in the second quarter worth about $137,000. Finally, EMC Capital Management lifted its position in shares of Horizon Bancorp by 11.0% in the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock worth $138,000 after buying an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.
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.
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