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HBNC

Horizon Bancorp, Inc.

HBNC

NASDAQ·Financial Services·Banks - Regional·Mkt cap $1.1B

$19.78

▼ -3.42%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$14.84 - $20.51

P/E

-6.22

Fwd P/E

9.42

Beta

0.83

Div Yield

3.24%

Avg Vol

465.7K

Shares Out

51.2M

Mkt Cap

$1.1B

Price action

Price chart

Up 21.5% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

5 reasons

  • 150+ year operating history and established brand recognition in Midwest markets
  • Extensive branch network with 78 full-service offices providing local market expertise
  • Diversified revenue streams across lending, deposits, wealth management, and insurance
  • Strong community relationships and local decision-making capabilities
  • Comprehensive service offerings enabling cross-selling and customer retention
▼

Bear Case

1 risk

  • Average volatility.

Growth

Turning profitable

Expansion of commercial lending in growing Indiana and Michigan markets

Value

Attractively priced below Commercial Banking peer average

Momentum

Strong

+18.0% over 3m

Quality

Loss-making

Strong fundamentals

Dividend

Solid

3.24% yield

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Jul 22, 2026

“
Q2 26 RECAP

APR 22, 2026

Reported EPS of $0.51 vs $0.48 consensus (+6.3% surprise). Revenue of $73.5M vs $74.0M expected (-0.7%).

EPS beat +6.3%
Revenue miss

EPS surprise · last 4Q

1 of 1 beats

Q2 26

+6.3%

Next: Jul 22, 2026

Revenue trend · last 8Q

—

—

—

+30%

+19%

-455%

+227%

+44%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$54.7M

$57.4M

$22.9M

$68.1M

$65.0M

-$203.7M

$100.8M

$97.9M

Margins · last 8Q

Gross

74.7%

Operating

33.0%

Profit

26.7%

View full earnings history →

Wall Street consensus

2 analysts · 50% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

1

50%

Hold

1

50%

Sell

0%

Median Price Target

$21.00

▲ +6.2% vs $19.78

Low $21.00
Median $21.00
High $21.00

Latest: Piper Sandler · $21.00 · Apr 27, 2026

1 analyst covering

View full analyst page →

vs Industry

How HBNC stacks vs Banks - Regional

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.