Horizon Bancorp Inc (HBNC) Receives $22.50 Consensus Target Price from Analysts
Horizon Bancorp Inc (NASDAQ:HBNC) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.50.
Several research firms have recently weighed in on HBNC. BidaskClub raised shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday. ValuEngine lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, August 7th. Finally, Stephens reaffirmed a “buy” rating and issued a $24.00 target price on shares of Horizon Bancorp in a report on Friday, July 27th.
In related news, Director Larry N. Middleton sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $20.69, for a total transaction of $51,725.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dennis Kuhn sold 5,841 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $20.72, for a total transaction of $121,025.52. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Horizon Bancorp stock traded down $0.40 on Wednesday, hitting $18.25. The company’s stock had a trading volume of 107,503 shares, compared to its average volume of 100,002. The firm has a market capitalization of $757.66 million, a PE 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 one year low of $17.07 and a one year high of $22.13.
Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Horizon Bancorp had a net margin of 23.28% and a return on equity of 10.03%. The business had revenue of $42.48 million for the quarter, compared to analyst estimates of $42.33 million. Analysts predict that Horizon Bancorp will post 1.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, October 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, October 4th. 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.
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