Horizon Bancorp Inc (NASDAQ:HBNC) has received a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.50.
A number of brokerages recently weighed in on HBNC. BidaskClub downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Stephens reiterated a “buy” rating and issued a $24.00 price target on shares of Horizon Bancorp in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Wednesday, August 1st. Finally, ValuEngine downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th.
In related news, insider Dennis Kuhn sold 5,841 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $20.72, for a total transaction of $121,025.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry N. Middleton sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $20.69, for a total value of $51,725.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:HBNC traded down $0.40 during mid-day trading on Wednesday, reaching $18.25. The stock had a trading volume of 107,503 shares, compared to its average volume of 100,002. The company has a market capitalization of $757.66 million, a price-to-earnings ratio of 17.89 and a beta of 0.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.99. Horizon Bancorp has a twelve month low of $17.07 and a twelve month high of $22.13.
Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $42.48 million for the quarter, compared to the consensus estimate of $42.33 million. Horizon Bancorp had a net margin of 23.28% and a return on equity of 10.03%. Equities research analysts expect that Horizon Bancorp will post 1.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, October 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. Horizon Bancorp’s payout ratio is 39.22%.
Horizon Bancorp Company Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.
Read More: Price to Earnings Ratio (PE)
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