Horizon Bancorp (NASDAQ:HBNC) Stock Rating Lowered by StockNews.com

Horizon Bancorp (NASDAQ:HBNC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Separately, Piper Sandler dropped their price objective on shares of Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, April 29th.

Horizon Bancorp Stock Up 1.5 %

Shares of NASDAQ:HBNC opened at $12.59 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16. The firm has a market cap of $555.34 million, a P/E ratio of 23.31 and a beta of 1.04. Horizon Bancorp has a 12 month low of $7.69 and a 12 month high of $14.71. The company’s 50-day moving average price is $12.08 and its two-hundred day moving average price is $12.21.

Institutional Investors Weigh In On Horizon Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sapient Capital LLC acquired a new stake in Horizon Bancorp during the 4th quarter worth $29,765,000. Harbour Trust & Investment Management Co bought a new stake in Horizon Bancorp in the fourth quarter valued at about $6,167,000. Swiss National Bank boosted its holdings in Horizon Bancorp by 2.2% during the third quarter. Swiss National Bank now owns 96,950 shares of the financial services provider’s stock worth $1,035,000 after buying an additional 2,100 shares during the last quarter. 1ST Source Bank boosted its holdings in Horizon Bancorp by 2.7% during the third quarter. 1ST Source Bank now owns 69,533 shares of the financial services provider’s stock worth $743,000 after buying an additional 1,860 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Horizon Bancorp by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider’s stock valued at $23,325,000 after acquiring an additional 34,861 shares during the last quarter. 64.51% of the stock is owned by institutional investors.

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.