Somewhat Favorable Press Coverage Likely to Affect Horizon Bancorp (IN) (NASDAQ:HBNC) Stock Price

News headlines about Horizon Bancorp (IN) (NASDAQ:HBNC) have been trending somewhat positive this week, according to Accern. The research group identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Horizon Bancorp (IN) earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 66 out of 100, indicating that recent media coverage is likely to have an impact on the stock’s share price in the immediate future.

These are some of the news articles that may have impacted Accern Sentiment’s rankings:

Several research analysts have weighed in on HBNC shares. Zacks Investment Research raised Horizon Bancorp (IN) from a “sell” rating to a “hold” rating in a research report on Wednesday, May 31st. ValuEngine raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $29.00 price target on shares of Horizon Bancorp (IN) in a research report on Wednesday, April 26th. Finally, Piper Jaffray Companies set a $32.00 price target on Horizon Bancorp (IN) and gave the stock a “buy” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.50.

Horizon Bancorp (NASDAQ:HBNC) traded down 0.57% on Wednesday, hitting $26.07. The company had a trading volume of 55,693 shares. The stock has a market capitalization of $578.13 million, a PE ratio of 19.62 and a beta of 0.98. The stock has a 50 day moving average of $26.32 and a 200-day moving average of $26.08. Horizon Bancorp has a one year low of $17.70 and a one year high of $28.63.

The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.13 dividend. This is a boost from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, July 5th. Horizon Bancorp (IN)’s payout ratio is currently 39.10%.

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About Horizon Bancorp (IN)

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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