Zacks Investment Research downgraded Horizon Bancorp (NASDAQ:HBNC) to Hold in a report released today.
- Updated: October 3, 2016
Only yesterday Horizon Bancorp (NASDAQ:HBNC) traded -1.80% lower at $28.85. Horizon Bancorp’s 50-day average is $28.35 and its two hundred day moving average is $25.96. The last closing price is up 11.14% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same period. Volume of trade was down over the average, with 22,789 shares of HBNC changing hands under the typical 40,119
Zacks Investment Research has downgraded Horizon Bancorp (NASDAQ:HBNC) to Hold in a statement released on Monday October 03, 2016.
On 09/20/2016, Zacks Investment Research released a statement about Horizon Bancorp (NASDAQ:HBNC) bumped up the target price from $0.00 to $32.00. At the time, this indicated a possible upside of 0.11%.
Horizon Bancorp has one year low of $21.92 and a one year high of $30.08 with a P/E ratio of 15.77 and has a market cap of $0.
Also covering Horizon Bancorp's target, a total of 5 brokerages have issued a ratings update on the company. The average target price is $27.80 with 1 broker rating the stock a strong buy, two equity analysts rating the company a buy, 2 firms rating the company a hold, zero analysts rating the stock a underperform, and finally 0 brokerages rating the company a sell.
General Information 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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