Horizon Bancorp (NASDAQ:HBNC) Stock Passes Above 200-Day Moving Average – Should You Sell?

Horizon Bancorp, Inc. (NASDAQ:HBNC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.34 and traded as high as $16.91. Horizon Bancorp shares last traded at $16.45, with a volume of 129,255 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HBNC shares. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler cut their target price on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th.

Horizon Bancorp Stock Performance

The firm has a market cap of $719.11 million, a P/E ratio of 20.56 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm has a fifty day moving average of $16.48 and a 200-day moving average of $16.34.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. Research analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s dividend payout ratio (DPR) is presently 80.00%.

Institutional Investors Weigh In On Horizon Bancorp

Several large investors have recently made changes to their positions in HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Horizon Bancorp by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,665 shares of the financial services provider’s stock valued at $397,000 after buying an additional 792 shares during the last quarter. AMI Investment Management Inc. boosted its position in Horizon Bancorp by 10.2% during the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,109 shares during the period. Jones Financial Companies Lllp lifted its position in Horizon Bancorp by 362.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,233 shares during the last quarter. Quarry LP boosted its stake in Horizon Bancorp by 64.4% in the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,352 shares during the period. Finally, Meritage Portfolio Management increased its position in Horizon Bancorp by 9.1% during the third quarter. Meritage Portfolio Management now owns 19,796 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 1,658 shares during the period. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp 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.