Horizon Bancorp (IN) (NASDAQ:HBNC) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Horizon Bancorp (IN) (NASDAQ:HBNC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.53 and traded as high as $16.04. Horizon Bancorp (IN) shares last traded at $15.70, with a volume of 425,350 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Piper Sandler raised their price target on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Horizon Bancorp (IN) in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and raised their price target for the company from $18.00 to $19.00 in a report on Tuesday, August 26th. Finally, Zacks Research raised Horizon Bancorp (IN) from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Horizon Bancorp (IN) Price Performance

The stock has a 50 day moving average of $16.13 and a two-hundred day moving average of $15.53. The stock has a market cap of $800.23 million, a PE ratio of -3.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). The company had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $69.34 million. Horizon Bancorp (IN) had a positive return on equity of 9.64% and a negative net margin of 51.01%. Equities analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.1%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -16.28%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

A number of institutional investors have recently bought and sold shares of HBNC. Nuveen LLC purchased a new position in Horizon Bancorp (IN) in the 1st quarter worth about $5,296,000. BlackBarn Capital Partners LP purchased a new position in Horizon Bancorp (IN) in the 1st quarter worth about $4,524,000. CSM Advisors LLC purchased a new position in Horizon Bancorp (IN) in the 2nd quarter worth about $3,479,000. Horizon Bancorp Inc. IN increased its stake in Horizon Bancorp (IN) by 61.5% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock worth $9,319,000 after purchasing an additional 221,620 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Horizon Bancorp (IN) by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 2,594,577 shares of the financial services provider’s stock worth $39,126,000 after acquiring an additional 142,298 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) 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.