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Company Analysis

Horizon Bancorp, Inc. HBNC

A comprehensive view of key metrics, scores, and financial health for Horizon Bancorp, Inc.

Overview of Horizon Bancorp, Inc.

HBNC NMS
Financial Services Banks - Regional Small Cap
Horizon Bancorp, Inc. (HBNC), is a Small Cap company, in the Banks - Regional industry, last closed at $18.39, about 27.5% overvalued vs fair value, +25.3% 1Y return, ranked 971/1037 in sector.
Metrics Rev Growth -45.0% ROE -20.7% Gross Margin -29.5% Div Yield 2.45%
$18.39
1.88%
As of April 28, 2026
Previous close • Vol 90d: 27.7%
52-Week Range
Market Cap
$942.00M
Enterprise Value
$1.28B
Overall Score
View breakdown
Overall
Growth
Weak
Profitability
Weak
Health
Weak
Efficiency
Fair
Valuation
Weak
Growth
Weak
Profitability
Weak
Health
Weak
Efficiency
Fair
Valuation
Weak
Completeness: 82%
Confidence: 81%
Updated: Mar 8
Top Beats

Quick Facts

Website https://www.horizonbank.com
HQ Michigan City, IN
Employees 841
Fiscal year Dec 31

Next Events

Dividend Apr 2
Earnings Apr 22 Estimated

Fair Value Snapshot

Bear Base Bull
$7
$13
$25
Current: $18.39 -28% vs base

Engine Room Money Flow™

Small Cap

Financial Services - Where revenue goes and how value is created

Flow Steps
Interest Income
$356.5M
14.1%%
Interest Expense
$133.3M
Net Interest Income
$188.6M
7.3%%
Total Revenue
$103.2M
-45%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Financial Services

Quality & Reliability Indicators

Return on Equity
4.6%
Poor

Net Income / Equity - key bank profitability metric

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$21.3M
60.1% of Net Income

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
2
Active Leaks
1/2
Improving
0
High Impact
1
Critical
Locked Leak
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Moat Analysis Bank Specialized

Competitive Advantage Assessment

Evaluating Horizon Bancorp, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
12
/100
Weak
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Weak
3
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Banks (Regional & Diversified) vs Industry Peers 88% Coverage
Trade-Off Triangle Visualization A ternary plot showing HBNC's balance between Growth (33.1%), Profitability (27.1%), and Safety (39.9%). Growth 33% Safety 40% Profitability 27%

Click axes to expand details. Marker shows current allocation.

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Growth

45th percentile vs peers
46
Key Signals
NII Growth YoY 7.3% 71p EPS Growth YoY 25.3% 78p Equity Growth YoY 6.2% 44p Asset Growth YoY -17.5% 0p
Strengths
  • Efficiency Ratio in top 20% of peers (1.64, 99th percentile)
Risks
  • Asset Growth YoY in bottom 20% of peers (-17.5%)

Profitability

37th percentile vs peers
38
Key Signals
Strengths
Risks
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Safety

55th percentile vs peers
55
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for Horizon Bancorp, Inc..

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

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  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$13.34
- - -
-27.5% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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