Horizon Bancorp (NASDAQ:HBNC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Horizon Bancorp, Inc. (NASDAQ:HBNC) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.70 and traded as high as $15.70. Horizon Bancorp shares last traded at $15.60, with a volume of 100,710 shares trading hands.

Analyst Ratings Changes

HBNC has been the subject of several research reports. Hovde Group assumed coverage on Horizon Bancorp in a research report on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

Horizon Bancorp Stock Down 0.3 %

The stock has a market capitalization of $681.95 million, a P/E ratio of 33.19 and a beta of 1.08. The business has a 50-day simple moving average of $17.31 and a two-hundred day simple moving average of $15.70. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The business had revenue of $102.40 million for the quarter, compared to analyst estimates of $58.23 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities research analysts forecast that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, January 3rd. Horizon Bancorp’s dividend payout ratio (DPR) is currently 136.17%.

Hedge Funds Weigh In On Horizon Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Horizon Bancorp by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock valued at $28,160,000 after buying an additional 135,217 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Horizon Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock worth $16,387,000 after acquiring an additional 52,423 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Horizon Bancorp by 11.9% in the second 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Horizon Bancorp by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock worth $5,458,000 after purchasing an additional 22,727 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Horizon Bancorp by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider’s stock valued at $4,222,000 after purchasing an additional 12,357 shares during the last quarter. Institutional investors and hedge funds 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.