Horizon Bancorp (NASDAQ:HBNC) Reaches New 12-Month High at $16.64

Horizon Bancorp, Inc. (NASDAQ:HBNC) reached a new 52-week high on Wednesday . The stock traded as high as $16.64 and last traded at $16.31, with a volume of 93531 shares. The stock had previously closed at $16.05.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HBNC shares. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Piper Sandler lifted their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, StockNews.com cut Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, September 7th.

Horizon Bancorp Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The stock’s 50-day moving average price is $15.12 and its 200-day moving average price is $13.16. The company has a market capitalization of $713.80 million, a price-to-earnings ratio of 30.39 and a beta of 1.04.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The firm had revenue of $97.47 million for the quarter, compared to the consensus estimate of $55.03 million. During the same quarter in the prior year, the business earned $0.41 EPS. Equities research analysts anticipate that Horizon Bancorp, Inc. will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Horizon Bancorp

Institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in Horizon Bancorp during the second quarter worth about $150,000. Pathway Financial Advisers LLC boosted its stake in Horizon Bancorp by 44.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,740 shares during the last quarter. Creative Planning grew its holdings in Horizon Bancorp by 21.7% during the second quarter. Creative Planning now owns 51,524 shares of the financial services provider’s stock valued at $637,000 after purchasing an additional 9,183 shares during the period. Mackenzie Financial Corp bought a new stake in Horizon Bancorp in the second quarter valued at approximately $133,000. Finally, AQR Capital Management LLC increased its stake in 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 valued at $5,915,000 after purchasing an additional 50,666 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

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.