Horizon Bancorp (NASDAQ:HBNC) Shares Gap Up - What's Next?

Horizon Bancorp, Inc. (NASDAQ:HBNC - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $14.50, but opened at $15.20. Horizon Bancorp shares last traded at $14.73, with a volume of 1,771 shares.Get Horizon Bancorp alerts:Analyst Ratings ChangesSeveral equities analysts recently commented on HBNC shares. Keefe, Bruyette & Woods reduced their price target on Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Piper Sandler decreased their price objective on shares of Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, April 28th.Get Our Latest Research Report on HBNCHorizon Bancorp Price PerformanceThe company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $651.20 million, a P/E ratio of 18.43 and a beta of 0.85. The company has a 50-day moving average price of $14.53 and a 200-day moving average price of $15.91. Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.14. The business had revenue of $69.17 million during the quarter, compared to the consensus estimate of $64.52 million. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, sell-side analysts predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year. Horizon Bancorp Dividend AnnouncementThe company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Friday, April 4th. Horizon Bancorp's dividend payout ratio is currently 62.75%. Institutional Inflows and OutflowsHedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in Horizon Bancorp during the 1st quarter worth approximately $552,000. Jane Street Group LLC bought a new position in Horizon Bancorp during the 1st quarter worth $1,231,000. Empowered Funds LLC lifted its holdings in Horizon Bancorp by 28.5% during the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider's stock worth $2,269,000 after buying an additional 33,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Horizon Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider's stock valued at $388,000 after buying an additional 1,057 shares during the last quarter. Finally, EJF Capital LLC increased its stake in shares of Horizon Bancorp by 27.2% in the first quarter. EJF Capital LLC now owns 116,064 shares of the financial services provider's stock valued at $1,750,000 after buying an additional 24,826 shares during the period. Institutional investors own 64.51% of the company's stock. About Horizon Bancorp (Get Free Report)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.Read MoreFive stocks we like better than Horizon Bancorp3 Stocks to Protect Your Portfolio from the Coronavirus Contagion Are NVIDIA's Ethernet Wins Signs of Hope or Horror for Arista?What Are Dividend Champions? How to Invest in the ChampionsBroadcom Slides on Solid Earnings, AI Outlook Still StrongDo ETFs Pay Dividends? What You Need to KnowThe Market’s Silent Warning: What Bonds and Gold RevealThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Horizon Bancorp Right Now?Before you consider Horizon Bancorp, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Horizon Bancorp wasn't on the list.While Horizon Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here