Horizon Bancorp (NASDAQ:HBNC) Stock Passes Above 200 Day Moving Average – Here’s Why

Horizon Bancorp, Inc. (NASDAQ:HBNC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.34 and traded as high as $16.91. Horizon Bancorp shares last traded at $16.45, with a volume of 129,255 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HBNC. Keefe, Bruyette & Woods lifted 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 note on Wednesday, December 4th. Piper Sandler lowered their price target on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

Horizon Bancorp Stock Performance

The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $719.11 million, a P/E ratio of 20.56 and a beta of 1.07. The company’s 50 day moving average is $16.48 and its 200 day moving average is $16.34.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. As a group, equities analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s payout ratio is 80.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,233 shares during the last quarter. Quarry LP lifted its holdings in shares of Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,753 shares during the period. R Squared Ltd acquired a new position in shares of Horizon Bancorp during the fourth quarter worth $39,000. Aquatic Capital Management LLC bought a new stake in shares of Horizon Bancorp in the fourth quarter worth $51,000. Finally, Point72 Asset Management L.P. acquired a new stake in Horizon Bancorp in the fourth quarter valued at $82,000. 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.