BidaskClub upgraded shares of Horizon Bancorp (NASDAQ:HBNC) from a hold rating to a buy rating in a report published on Wednesday morning, BidAskClub reports.

Separately, Zacks Investment Research upgraded Horizon Bancorp from a sell rating to a hold rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $20.00.

Horizon Bancorp stock opened at $17.45 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50-day simple moving average is $16.56 and its two-hundred day simple moving average is $16.39. The company has a market cap of $794.88 million, a PE ratio of 12.78 and a beta of 0.97. Horizon Bancorp has a fifty-two week low of $14.79 and a fifty-two week high of $20.65.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $52.43 million for the quarter, compared to the consensus estimate of $52.61 million. Horizon Bancorp had a return on equity of 10.10% and a net margin of 24.17%. As a group, analysts predict that Horizon Bancorp will post 1.57 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of HBNC. Bank of America Corp DE boosted its stake in shares of Horizon Bancorp by 97.8% in the fourth quarter. Bank of America Corp DE now owns 28,554 shares of the financial services provider’s stock worth $450,000 after buying an additional 14,120 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Horizon Bancorp by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,659,383 shares of the financial services provider’s stock worth $26,185,000 after buying an additional 98,126 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Horizon Bancorp by 445.4% in the first quarter. BNP Paribas Arbitrage SA now owns 7,706 shares of the financial services provider’s stock worth $124,000 after buying an additional 6,293 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Horizon Bancorp in the first quarter worth about $130,000. Finally, Rhumbline Advisers boosted its stake in shares of Horizon Bancorp by 1.3% in the first quarter. Rhumbline Advisers now owns 54,380 shares of the financial services provider’s stock worth $875,000 after buying an additional 701 shares during the last quarter. Hedge funds and other institutional investors own 48.88% of the company’s stock.

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 demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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