In yesterday’s Wall Street session, Horizon Bancorp Inc. (NASDAQ:HBNC) shares traded at $11.26, down -3.10% from the previous session.
As of this writing, 5 analysts cover Horizon Bancorp Inc. (NASDAQ:HBNC). The consensus rating among analysts is ‘Overweight’. HBNC stock price is now -26.53% away from the 50-day moving average and -34.06% away from the 200-day moving average. The market capitalization of the company currently stands at $521.23M.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
There are 2 analysts who have given it a hold rating, whereas 2 have given it a buy rating.
With the price target maintained at $17, Piper Sandler recently Downgraded its rating from Overweight to Neutral for Horizon Bancorp Inc. (NASDAQ: HBNC). On October 28, 2022, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock reducing its target price from $23 to quote $18, while ‘Raymond James’ rates the stock as ‘Outperform’.
In other news, Etzler Todd A., Executive Vice President & GC bought 666 shares of the company’s stock on Nov 03. The stock was bought for $9,870 at an average price of $14.82. Upon completion of the transaction, the Executive Vice President & GC now directly owns 11,416 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 02, Chief Executive Officer DWIGHT CRAIG M bought 2,000 shares of the business’s stock. A total of $30,160 was incurred on buying the stock at an average price of $15.08. This leaves the insider owning 367,703 shares of the company worth $4.14 million. Insiders disposed of 15,769 shares of company stock worth roughly $0.18 million over the past 1 year. A total of 1.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HBNC stock. A new stake in Horizon Bancorp Inc. shares was purchased by FJ CAPITAL MANAGEMENT LLC during the first quarter worth $6,597,000. BASSWOOD PARTNERS, L.L.C. invested $1,411,000 in shares of HBNC during the first quarter. In the first quarter, BOOTHBAY FUND MANAGEMENT, LLC acquired a new stake in Horizon Bancorp Inc. valued at approximately $831,000. BHZ CAPITAL MANAGEMENT, LP acquired a new stake in HBNC for approximately $663,000. MARSHALL WACE, LLP purchased a new stake in HBNC valued at around $475,000 in the second quarter. In total, there are 217 active investors with 57.00% ownership of the company’s stock.
Tuesday morning saw Horizon Bancorp Inc. (NASDAQ: HBNC) opened at $12.44. During the past 12 months, Horizon Bancorp Inc. has had a low of $11.43 and a high of $20.68. The fifty day moving average price for HBNC is $15.25 and a two-hundred day moving average price translates $17.05 for the stock.
The latest earnings results from Horizon Bancorp Inc. (NASDAQ: HBNC) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.48, missing analysts’ expectations of $0.51 by -0.03. This compares to $0.52 EPS in the same period last year. The net profit margin was 39.40% and return on equity was 13.70% for HBNC. The company reported revenue of $63.03 million for the quarter, compared to $50.87 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.91 percent. For the current quarter, analysts expect HBNC to generate $59.28M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/20/2023. Investors who held shares on 01/06/2023 were paid a $0.16 dividend. On an annualized basis, this represents a $0.64 dividend and a 5.68% percent yield. There was an ex-dividend date of 01/05/2023 for this dividend. In terms of dividend payout ratio, HBNC is presently at 27.20%.
Horizon Bancorp Inc.(HBNC) Company Profile
Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products. It operates through a network of 78 full-service offices in northern and central Indiana and southern and central Michigan. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.
