Piper Sandler Sets New Price Target of $19.00 for Horizon Bancorp (NASDAQ:HBNC)

3 min read | January 28, 2025 07:29 PM AEDT | By Team Kalkine Media

Piper Sandler Sets New Price Target of $19.00 for Horizon Bancorp (NASDAQ:HBNC)

Overview of Recent Expert Reports

Piper Sandler has recently adjusted the price target for Horizon Bancorp (NASDAQ:HBNC), reducing it from $20.00 to $19.00, while maintaining a neutral rating on the stock. This change aligns with several observations by other experts who have evaluated the company.

Recent Market Performance

Horizon Bancorp’s recent trading activity shows growth, with shares opening at $17.13. The stock’s performance is indicated by its moving averages, specifically a 50-day simple average of $16.87 and a 200-day simple average of $16.03, alongside a market capitalization of $748.84 million. Horizon Bancorp exhibits a P/E ratio of 21.41 and a beta of 1.08, reflecting its sensitivity to overall market movements. The balance sheet highlights a current and quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock’s trajectory over the past year spans a low of $11.18 to a high of $19.18.

Financial Outlook: Earnings and Dividends

The company’s latest earnings report indicated $0.36 earnings per share for the recent quarter, slightly below expert expectations of $0.39. Despite this, Horizon Bancorp achieved a net margin of 9.86% and a return on equity of 8.48%. Experts anticipate the company will reach an earnings per share of 1.67 for the current fiscal year. Additionally, Horizon Bancorp recently declared a quarterly dividend of $0.16, representing a $0.64 dividend on an annualized basis with a yield of 3.74%, which is indicative of its consideration to shareholders. Currently, the payout ratio stands at 80.00%.

Institutional Investor Activities

Institutional investors have actively managed their stakes in Horizon Bancorp, influencing the company's stock dynamics. Notable adjustments include Bank of Montreal Can's acquisition of a new stake valued at $432,000, Geode Capital Management LLC’s 5.2% increase in its shares, and Barclays PLC’s 62.7% stake rise. Franklin Resources Inc. and JPMorgan Chase & Co. have similarly modified their holdings, emphasizing the active engagement of major investors. The collective institutional ownership of the company's stock accounts for 64.51%.

Company Overview

Horizon Bancorp operates as the holding company for Horizon Bank, providing a wide spectrum of commercial and retail banking services. These services include various deposit accounts like checking, savings, and money market accounts, as well as certificates of deposit, individual retirement accounts, and demand deposits. Horizon Bancorp’s focus remains on facilitating both interest-bearing and non-interest-bearing financial products.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.