The stock of Horizon Bancorp (NASDAQ:HBNC) reached all time high today, Oct, 11 and still has $56.54 target or 86.00% above today’s $30.40 share price. This indicates more upside for the $459.06M company. This technical setup was reported by Barchart.com. If the $56.54 PT is reached, the company will be worth $394.79M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 2,410 shares traded hands. Horizon Bancorp (NASDAQ:HBNC) has risen 27.02% since March 8, 2016 and is uptrending. It has outperformed by 17.70% the S&P500.
Analysts await Horizon Bancorp (NASDAQ:HBNC) to report earnings on October, 27. They expect $0.58 EPS, up 3.57% or $0.02 from last year’s $0.56 per share. HBNC’s profit will be $8.76 million for 13.10 P/E if the $0.58 EPS becomes a reality. After $0.57 actual EPS reported by Horizon Bancorp for the previous quarter, Wall Street now forecasts 1.75% EPS growth.
Horizon Bancorp (NASDAQ:HBNC) Ratings Coverage
Out of 9 analysts covering Horizon Bancorp (NASDAQ:HBNC), 7 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 78% are positive. $33.50 is the highest target while $28 is the lowest. The $30.60 average target is 0.66% above today’s ($30.4) stock price. Horizon Bancorp has been the topic of 11 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by KBW on Friday, August 7. PiperJaffray initiated Horizon Bancorp (NASDAQ:HBNC) on Thursday, October 6 with “Overweight” rating. As per Thursday, September 3, the company rating was downgraded by Zacks. The stock of Horizon Bancorp (NASDAQ:HBNC) earned “Overweight” rating by Stephens on Friday, October 2. The rating was upgraded by FIG Partners to “Outperform” on Monday, March 14. Piper Jaffray initiated it with “Overweight” rating and $33.50 target price in Thursday, October 6 report. The firm has “Hold” rating by Sandler O’Neill given on Thursday, January 7. Bruyette & Woods” upgraded the stock to “Mkt Perform” rating in Friday, August 7 report. On Friday, August 7 the stock rating was upgraded by Bruyette & Woods” to “Outperform”.
According to Zacks Investment Research, “HORIZON BNCP-IN is a bank holding company. Through subsidiaries, they are engaged as a full-service commercial bank offering a broad range of commercial and retail banking services, corporate and individual trust and agency services, commercial and personal property and casualty insurance services and other services incident to banking.”
Insitutional Activity: The institutional sentiment increased to 1.5 in 2016 Q2. Its up 0.45, from 1.05 in 2016Q1. The ratio is positive, as 4 funds sold all Horizon Bancorp shares owned while 22 reduced positions. 4 funds bought stakes while 35 increased positions. They now own 5.28 million shares or 3.86% more from 5.08 million shares in 2016Q1.
Amica Pension Fund Board Of Trustees has 57,924 shares for 0.19% of their US portfolio. Blackrock Incorporated, a New York-based fund reported 3,355 shares. Keeley Asset Mgmt Corporation accumulated 11,067 shares or 0.01% of the stock. Moreover, Thomson Horstmann And Bryant Incorporated has 0.08% invested in Horizon Bancorp (NASDAQ:HBNC) for 24,501 shares. Retail Bank Of America Corporation De last reported 3,228 shares in the company. Putnam Invests Ltd Llc last reported 0% of its portfolio in the stock. Vanguard Grp Incorporated last reported 0% of its portfolio in the stock. Royal Retail Bank Of Canada holds 0% of its portfolio in Horizon Bancorp (NASDAQ:HBNC) for 82 shares. Moreover, Cornercap Counsel has 0.09% invested in Horizon Bancorp (NASDAQ:HBNC) for 19,652 shares. Blackrock Fund, a California-based fund reported 291,618 shares. Amica Retiree Med Trust holds 8,935 shares or 0.19% of its portfolio. Minerva Limited Liability Com has invested 0.34% of its portfolio in Horizon Bancorp (NASDAQ:HBNC). Schwab Charles Mgmt has invested 0% of its portfolio in Horizon Bancorp (NASDAQ:HBNC). Renaissance Limited Liability Com accumulated 0.01% or 158,155 shares. The California-based Blackrock Institutional Trust Communication Na has invested 0% in Horizon Bancorp (NASDAQ:HBNC).
Insider Transactions: Since April 29, 2016, the stock had 1 buying transaction, and 6 selling transactions for $862,089 net activity. $48,000 worth of Horizon Bancorp (NASDAQ:HBNC) shares were sold by EDWARDS THOMAS H. 10,000 shares were sold by DWIGHT CRAIG M, worth $246,700 on Wednesday, June 1. Reed Steven William bought $53,981 worth of Horizon Bancorp (NASDAQ:HBNC) on Friday, April 29. 1,000 shares were sold by DeRuiter Kathie A, worth $24,400. Another trade for 3,000 shares valued at $73,170 was sold by SECOR MARK E.
More important recent Horizon Bancorp (NASDAQ:HBNC) news were published by: Businesswire.com which released: “Horizon Bancorp and LaPorte Bancorp, Inc. Announce the Signing of a Merger …” on March 11, 2016, also Businesswire.com published article titled: “Horizon Bancorp and Kosciusko Financial, Inc. Announce the Signing of a Merger …”, Businesswire.com published: “Horizon Bancorp Announces Closing of LaPorte Bancorp, Inc. Merger” on July 18, 2016. More interesting news about Horizon Bancorp (NASDAQ:HBNC) was released by: Businesswire.com and their article: “Horizon Bancorp and LaPorte Bancorp, Inc. Announce Receipt of Regulatory …” with publication date: June 16, 2016.
HBNC Company Profile
Horizon Bancorp, incorporated on April 26, 1983, is a bank holding company. The Firm provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc. The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. Horizon Risk Management, Inc. is a captive insurance company. The Bank maintains approximately 54 full service offices.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.