Piper Jaffray Companies set a $32.00 target price on Horizon Bancorp (IN) (NASDAQ:HBNC) in a research report sent to investors on Saturday morning. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on HBNC. Zacks Investment Research downgraded Horizon Bancorp (IN) from a buy rating to a hold rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $29.00 price target on shares of Horizon Bancorp (IN) in a research report on Wednesday, April 26th. Finally, ValuEngine raised Horizon Bancorp (IN) from a hold rating to a buy rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Horizon Bancorp (IN) presently has a consensus rating of Buy and an average price target of $29.50.

Shares of Horizon Bancorp (HBNC) opened at 26.65 on Friday. Horizon Bancorp has a 52-week low of $17.70 and a 52-week high of $28.63. The firm has a market cap of $591.52 million, a P/E ratio of 21.15 and a beta of 0.98. The company’s 50-day moving average is $26.38 and its 200-day moving average is $26.09.

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The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a $0.13 dividend. This is a positive change from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, July 5th. This represents a $0.52 annualized dividend and a yield of 1.95%. Horizon Bancorp (IN)’s payout ratio is currently 39.10%.

A number of hedge funds have recently made changes to their positions in HBNC. Dimensional Fund Advisors LP increased its stake in Horizon Bancorp (IN) by 66.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,284 shares of the financial services provider’s stock worth $14,176,000 after buying an additional 202,919 shares during the last quarter. State Street Corp boosted its position in Horizon Bancorp (IN) by 91.0% in the fourth quarter. State Street Corp now owns 313,500 shares of the financial services provider’s stock worth $8,780,000 after buying an additional 149,342 shares during the last quarter. Renaissance Technologies LLC boosted its position in Horizon Bancorp (IN) by 20.8% in the first quarter. Renaissance Technologies LLC now owns 290,070 shares of the financial services provider’s stock worth $7,606,000 after buying an additional 49,900 shares during the last quarter. Stephens Inc. AR acquired a new position in Horizon Bancorp (IN) during the first quarter worth about $1,000,000. Finally, Pacific Ridge Capital Partners LLC boosted its position in Horizon Bancorp (IN) by 20.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 160,323 shares of the financial services provider’s stock worth $4,204,000 after buying an additional 26,738 shares during the last quarter. 44.09% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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