Horizon Bancorp (IN) (NASDAQ:HBNC) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Horizon Bancorp (IN) (NASDAQ:HBNC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.45 and traded as high as $19.04. Horizon Bancorp (IN) shares last traded at $18.75, with a volume of 568,154 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HBNC. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Finally, Stephens assumed coverage on shares of Horizon Bancorp (IN) in a report on Friday, March 27th. They set an “overweight” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.67.

Horizon Bancorp (IN) Stock Up 0.1%

The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $962.44 million, a price-to-earnings ratio of -5.90 and a beta of 0.83. The firm’s fifty day simple moving average is $17.84 and its 200 day simple moving average is $17.45.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The company had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Sell-side analysts predict that Horizon Bancorp will post 2.1 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were issued a $0.16 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.13%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Horizon Bancorp (IN) by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock valued at $54,093,000 after buying an additional 176,448 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Horizon Bancorp (IN) by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock valued at $41,116,000 after buying an additional 75,462 shares in the last quarter. PL Capital Advisors LLC boosted its holdings in shares of Horizon Bancorp (IN) by 7.2% in the 4th quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock valued at $30,746,000 after buying an additional 121,651 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Horizon Bancorp (IN) by 29.3% in the 1st quarter. Jennison Associates LLC now owns 1,605,798 shares of the financial services provider’s stock valued at $26,608,000 after buying an additional 363,433 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Horizon Bancorp (IN) in the 3rd quarter valued at $24,842,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.