Horizon Bancorp (NASDAQ:HBNC) Reaches New 1-Year High – Time to Buy?

Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.06 and last traded at $18.99, with a volume of 32762 shares trading hands. The stock had previously closed at $18.53.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Hovde Group initiated coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Horizon Bancorp currently has an average rating of “Hold” and an average target price of $16.00.

Horizon Bancorp Stock Up 0.1 %

The firm has a market cap of $812.75 million, a price-to-earnings ratio of 39.55 and a beta of 1.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm has a fifty day moving average price of $16.34 and a 200-day moving average price of $14.66.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The company had revenue of $102.40 million during the quarter, compared to the consensus estimate of $58.23 million. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.4 EPS for the current year.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Friday, October 4th. Horizon Bancorp’s dividend payout ratio is currently 136.17%.

Institutional Trading of Horizon Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its position in Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,753 shares during the period. CWM LLC increased its position in Horizon Bancorp by 1,656.2% during the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 3,064 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Horizon Bancorp in the first quarter valued at approximately $80,000. Centiva Capital LP acquired a new position in Horizon Bancorp during the third quarter valued at approximately $163,000. Finally, EMC Capital Management grew its stake in Horizon Bancorp by 11.0% during the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock worth $138,000 after buying an additional 1,064 shares during the period. 64.51% of the stock is currently 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.