Horizon Bancorp (NASDAQ: HBNC) was downgraded by Zacks Investment Research from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Saturday.
Separately, analysts at Raymond James (NYSE: RJF) upgraded shares of Horizon Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. Analysts at Sandler O’Neill initiated coverage on shares of Horizon Bancorp in a research note to investors on Tuesday, December 20th. They set a “buy” rating on the stock. Also, analysts at Sandler O’Neill initiated coverage on shares of Horizon Bancorp in a research note to investors on Tuesday, December 20th. They set a “buy” rating on the stock.
Horizon Bancorp (Horizon) is a bank holding company. Horizon provides a range of banking services in Northwestern Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities. 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. On April 6, 2009, the Bank opened a full service branch in Goshen, Indiana. On June 8, 2009, the Bank opened a full service branch in Munster, Indiana. At December 31, 2009, the Bank had total assets of $1.4 billion and total deposits of $951.7 million.
Shares of Horizon Bancorp opened at 17.95 on Friday. Horizon Bancorp has a one year low of $16.1667 and a one year high of $19.4667. The stock’s 50-day moving average is $17.33 and its 200-day moving average is $17.39. The company has a market cap of $89.1 million and a P/E ratio of 8.61.