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Horizon Bancorp (NASDAQ:HBNC) target price raised to $33.50, reported today by Piper Jaffray

Horizon Bancorp (NASDAQ:HBNC) had its target price raised to $33.50 by Piper Jaffray in a report released 10/6/2016. The new target price indicates a possible upside of 0.15% based on the company's last stock close price.

Yesterday Horizon Bancorp (NASDAQ:HBNC) traded 0.33% higher at $29.02. The company’s 50-day moving average is $28.42 and its 200-day moving average is $26.01. The last stock close price is up 11.93% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 2,283 shares of the stock were exchanged, down from an average trading volume of 40,494

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Horizon Bancorp (NASDAQ:HBNC)

Horizon Bancorp has a 52 week low of $21.92 and a 52 week high of $30.08 with a P/E ratio of 15.92 The company’s market cap is currently $0.

In addition to Piper Jaffray reporting its target price, a total of 5 firms have reported on the stock. The consensus target price is $27.80 with 1 firm rating the stock a strong buy, 2 firms rating the stock a buy, 2 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Horizon Bancorp (NASDAQ:HBNC)

Horizon Bancorp is a bank holding company. The Company 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's loan portfolio consists of commercial loans, real estate loans, mortgage warehouse loans and consumer loans. The Bank's investment securities include both securities available for sale and held to maturity. Its deposits include noninterest-bearing demand deposits, interest-bearing demand deposits, savings deposits, money market deposits and time deposits. The Bank maintains approximately 54 full service offices.

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