Piper Sandler Lowers Horizon Bancorp (NASDAQ:HBNC) Price Target to $19.00

Horizon Bancorp (NASDAQ:HBNCGet Free Report) had its target price cut by research analysts at Piper Sandler from $20.00 to $19.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 11.96% from the stock’s previous close.

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

View Our Latest Stock Report on Horizon Bancorp

Horizon Bancorp Stock Down 0.9 %

Shares of Horizon Bancorp stock opened at $16.97 on Monday. Horizon Bancorp has a 1-year low of $11.18 and a 1-year high of $19.18. The company has a market capitalization of $741.93 million, a PE ratio of 21.21 and a beta of 1.08. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average of $16.85 and a 200-day moving average of $16.05.

Horizon Bancorp (NASDAQ:HBNCGet Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, equities analysts forecast that Horizon Bancorp will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBNC. Quarry LP boosted its stake in Horizon Bancorp by 508.1% during the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,753 shares in the last quarter. R Squared Ltd acquired a new position in Horizon Bancorp during the fourth quarter worth about $39,000. CWM LLC raised its position in Horizon Bancorp by 114.2% in the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 3,709 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Horizon Bancorp by 44.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 2,740 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Horizon Bancorp during the 2nd quarter valued at about $133,000. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp Company Profile

(Get Free Report)

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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