Fintel reports that on September 30, 2024, Hovde Group initiated coverage of Horizon Bancorp (NasdaqGS:HBNC) with a Outperform recommendation.
Analyst Price Forecast Suggests 8.16% Upside
As of September 25, 2024, the average one-year price target for Horizon Bancorp is $16.83/share. The forecasts range from a low of $13.13 to a high of $19.42. The average price target represents an increase of 8.16% from its latest reported closing price of $15.56 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Horizon Bancorp is 279MM, an increase of 54.88%. The projected annual non-GAAP EPS is 2.10.
What is the Fund Sentiment?
There are 349 funds or institutions reporting positions in Horizon Bancorp. This is an increase of 7 owner(s) or 2.05% in the last quarter. Average portfolio weight of all funds dedicated to HBNC is 0.10%, an increase of 0.06%. Total shares owned by institutions increased in the last three months by 4.27% to 34,135K shares. 
The put/call ratio of HBNC is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
Sapient Capital holds 2,080K shares representing 4.76% ownership of the company. No change in the last quarter.
PL Capital Advisors holds 1,623K shares representing 3.71% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,163K shares representing 2.66% ownership of the company. In its prior filing, the firm reported owning 1,145K shares , representing an increase of 1.58%. The firm decreased its portfolio allocation in HBNC by 4.74% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,084K shares representing 2.48% ownership of the company. In its prior filing, the firm reported owning 1,141K shares , representing a decrease of 5.23%. The firm decreased its portfolio allocation in HBNC by 0.04% over the last quarter.
Geode Capital Management holds 1,001K shares representing 2.29% ownership of the company. In its prior filing, the firm reported owning 957K shares , representing an increase of 4.39%. The firm decreased its portfolio allocation in HBNC by 50.03% over the last quarter.
Horizon Bancorp Inc Background Information
(This description is provided by the company.)
Horizon Bancorp, Inc. is an independent, commercial bank holding company serving northern and central Indiana, and southern and central Michigan through its commercial banking subsidiary, Horizon Bank.
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