Horizon Bancorp (HBNC) – Research Analysts’ Weekly Ratings Changes

Horizon Bancorp (NASDAQ: HBNC) recently received a number of ratings updates from brokerages and research firms:

  • 10/22/2019 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
  • 10/22/2019 – Horizon Bancorp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/15/2019 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
  • 10/10/2019 – Horizon Bancorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/8/2019 – Horizon Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking. “
  • 10/4/2019 – Horizon Bancorp was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 9/18/2019 – Horizon Bancorp was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

NASDAQ HBNC opened at $17.70 on Wednesday. The company has a market cap of $788.12 million, a price-to-earnings ratio of 13.94 and a beta of 1.00. Horizon Bancorp Inc has a 52 week low of $14.79 and a 52 week high of $17.96. The business has a 50 day moving average price of $17.11 and a 200-day moving average price of $16.49. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.79.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The firm had revenue of $52.43 million during the quarter, compared to the consensus estimate of $52.61 million. Horizon Bancorp had a return on equity of 10.10% and a net margin of 24.17%. On average, equities research analysts anticipate that Horizon Bancorp Inc will post 1.57 earnings per share for the current year.

The business also recently announced a — dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a dividend yield of 2.7%. Horizon Bancorp’s payout ratio is 37.80%.

Several large investors have recently made changes to their positions in HBNC. Marshall Wace LLP purchased a new position in shares of Horizon Bancorp during the first quarter valued at approximately $26,000. WINTON GROUP Ltd boosted its position in shares of Horizon Bancorp by 35.9% during the second quarter. WINTON GROUP Ltd now owns 19,284 shares of the financial services provider’s stock valued at $315,000 after buying an additional 5,090 shares during the last quarter. Rhenman & Partners Asset Management AB purchased a new position in shares of Horizon Bancorp during the second quarter valued at approximately $26,169,000. Swiss National Bank boosted its position in shares of Horizon Bancorp by 2.1% during the second quarter. Swiss National Bank now owns 67,850 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 1,400 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Horizon Bancorp during the second quarter valued at approximately $163,000. 48.84% of the stock is currently owned by institutional investors.

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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