Horizon Bancorp (NASDAQ:HBNC) Given New $13.00 Price Target at Piper Sandler

Horizon Bancorp (NASDAQ:HBNC) had its price target lowered by research analysts at Piper Sandler from $14.00 to $13.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 11.49% from the company’s current price.

Separately, StockNews.com downgraded Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th.

Horizon Bancorp Stock Performance

NASDAQ HBNC opened at $11.66 on Monday. The company has a market cap of $514.32 million, a PE ratio of 21.59 and a beta of 1.02. The stock’s 50 day simple moving average is $12.08 and its 200-day simple moving average is $12.12. Horizon Bancorp has a 1-year low of $7.69 and a 1-year high of $14.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.70 and a quick ratio of 0.70.

Institutional Investors Weigh In On Horizon Bancorp

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in Horizon Bancorp by 59.6% during the 3rd quarter. SG Americas Securities LLC now owns 25,451 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 9,506 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Horizon Bancorp during the 3rd quarter worth $169,000. Bank of New York Mellon Corp boosted its position in shares of Horizon Bancorp by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 284,040 shares of the financial services provider’s stock worth $3,034,000 after acquiring an additional 3,712 shares in the last quarter. Strs Ohio boosted its position in shares of Horizon Bancorp by 3.0% during the 3rd quarter. Strs Ohio now owns 54,200 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 1,600 shares in the last quarter. Finally, PL Capital Advisors LLC boosted its position in shares of Horizon Bancorp by 4.3% during the 3rd quarter. PL Capital Advisors LLC now owns 1,620,090 shares of the financial services provider’s stock worth $17,303,000 after acquiring an additional 67,000 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

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.