Horizon Bancorp Inc [IN] [HBNC] moved down -0.31: Why It’s Important

Horizon Bancorp Inc (IN) [NASDAQ: HBNC] closed the trading session at $12.72. The company report on January 24, 2024 at 4:05 PM that Horizon Bancorp, Inc. Announces Fourth Quarter and Full Year 2023 Results, Successfully Executes Balance Sheet Restructuring for Future Earnings Growth.

“Horizon had a very positive and productive fourth quarter, led by strong loan growth, consistent core deposit balances, stabilized net interest margin and excellent asset quality,” President and Chief Executive Officer Thomas M. Prame said. “Additionally, we closed out the year with a successful restructure of our balance sheet, providing abundant liquidity to deploy into higher yielding assets and drive meaningful earnings growth in future quarters. Over the quarter, the team made significant progress building out our leasing platform, and we expect to see positive impacts from this effort in the second quarter of 2024. The franchise is experiencing positive momentum in its core business models and we are very optimistic about our position as we enter 2024 and our ability to create value for our shareholders and clients.”.

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The stocks have a year to date performance of -11.11 percent and weekly performance of 1.60 percent. The stock has been moved at 11.38 percent over the last six months. The stock has performed -3.05 percent around the most recent 30 days and changed 14.18 percent over the most recent 3-months.

If compared to the average trading volume of 170.59K shares, HBNC reached to a volume of 171972 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Horizon Bancorp Inc [IN] [HBNC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HBNC shares is $15.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HBNC stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Horizon Bancorp Inc (IN) shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 06, 2023.

The Average True Range (ATR) for Horizon Bancorp Inc (IN) is set at 0.53, with the Price to Sales ratio for HBNC stock in the period of the last 12 months amounting to 1.73. The Price to Book ratio for the last quarter was 0.78. Price to Free Cash Flow for HBNC in the course of the last twelve months was 6.76.

HBNC stock trade performance evaluation

Horizon Bancorp Inc (IN) [HBNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.60. With this latest performance, HBNC shares dropped by -3.05% in over the last four-week period, additionally plugging by 11.38% over the last 6 months – not to mention a drop of -19.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HBNC stock in for the last two-week period is set at 47.75, with the RSI for the last a single of trading hit 49.42, and the three-weeks RSI is set at 48.42 for Horizon Bancorp Inc (IN) [HBNC]. The present Moving Average for the last 50 days of trading for this stock 13.32, while it was recorded at 12.48 for the last single week of trading, and 11.24 for the last 200 days.

Horizon Bancorp Inc [IN] [HBNC]: An insightful look at the core fundamentals

Horizon Bancorp Inc (IN)’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.49.

Earnings per share (EPS) analysis for Horizon Bancorp Inc (IN) [HBNC] stock

With the latest financial reports released by the company, Horizon Bancorp Inc (IN) posted 0.42/share EPS, while the average EPS was predicted by analysts to be reported at 0.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HBNC.

Horizon Bancorp Inc [IN] [HBNC]: Institutional Ownership

The top three institutional holders of HBNC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HBNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HBNC stock with ownership which is approximately 5.8325%.