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HBNC (Horizon Bancorp) Stock Analysis
Buy, Hold or Sell?

Let's analyze Horizon Bancorp together

I guess you are interested in Horizon Bancorp. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

  • 📊 Fundamental Analysis (FA) – Horizon Bancorp’s Financial Insights
  • 📈 Technical Analysis (TA) – Horizon Bancorp’s Price Targets

I'm going to help you getting a better view of Horizon Bancorp. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Horizon Bancorp (30 sec.)










1.2. What can you expect buying and holding a share of Horizon Bancorp? (30 sec.)

How much money do you get?

How much money do you get?
$0.64
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
$17.60
Expected worth in 1 year
$18.84
How sure are you?
82.5%

+ What do you gain per year?

Total Gains per Share
$1.89
Return On Investment
12.0%

For what price can you sell your share?

Current Price per Share
$15.71
Expected price per share
$13.16 - $17.38
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Horizon Bancorp (5 min.)




Live pricePrice per Share (EOD)
$15.71
Intrinsic Value Per Share
$-4.48 - $15.54
Total Value Per Share
$13.12 - $33.14

2.2. Growth of Horizon Bancorp (5 min.)




Is Horizon Bancorp growing?

Current yearPrevious yearGrowGrow %
How rich?$776m$710.6m$44.6m5.9%

How much money is Horizon Bancorp making?

Current yearPrevious yearGrowGrow %
Making money$11.3m$5.9m$5.4m47.7%
Net Profit Margin9.5%3.4%--

How much money comes from the company's main activities?

2.3. Financial Health of Horizon Bancorp (5 min.)




2.4. Comparing to competitors in the Banks - Regional industry (5 min.)




  Industry Rankings (Banks - Regional)  

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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Horizon Bancorp?

Welcome investor! Horizon Bancorp's management wants to use your money to grow the business. In return you get a share of Horizon Bancorp.

First you should know what it really means to hold a share of Horizon Bancorp. And how you can make/lose money.

Speculation

The Price per Share of Horizon Bancorp is $15.71. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Horizon Bancorp.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Horizon Bancorp, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $17.60. Based on the TTM, the Book Value Change Per Share is $0.31 per quarter. Based on the YOY, the Book Value Change Per Share is $0.11 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.16 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Horizon Bancorp.

How much money are you going to get?

 MRQTTMYOY3Y5Y10Y
 $% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share
Usd Eps0.543.5%0.261.6%0.130.9%0.301.9%0.372.3%0.301.9%
Usd Book Value Change Per Share0.281.8%0.312.0%0.110.7%0.191.2%0.181.1%0.332.1%
Usd Dividend Per Share0.161.0%0.161.0%0.161.0%0.161.0%0.151.0%0.110.7%
Usd Total Gains Per Share0.442.8%0.473.0%0.271.7%0.352.2%0.332.1%0.442.8%
Usd Price Per Share15.08-14.78-12.06-14.07-14.96-18.94-
Price to Earnings Ratio6.94-2.42-4.31-4.79-6.29-19.29-
Price-to-Total Gains Ratio33.93-35.34-14.62-2.86-29.14-29.46-
Price to Book Ratio0.86-0.86-0.75-0.88-0.94-1.86-
Price-to-Total Gains Ratio33.93-35.34-14.62-2.86-29.14-29.46-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share15.71
Number of shares63
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.160.15
Usd Book Value Change Per Share0.310.18
Usd Total Gains Per Share0.470.33
Gains per Quarter (63 shares)29.7120.48
Gains per Year (63 shares)118.8281.93
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
14178109384472
2811572287688154
3122235347113132236
4162313466151177318
5203392585189221400
6243470704227265482
7284548823264309564
8324626942302353646
93657051061340397728
104057831180378442810

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share3.01.00.075.0%10.02.00.083.3%18.02.00.090.0%38.02.00.095.0%115.04.00.096.6%
Book Value Change Per Share4.00.00.0100.0%9.03.00.075.0%14.06.00.070.0%31.09.00.077.5%90.029.00.075.6%
Dividend per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%119.00.00.0100.0%
Total Gains per Share4.00.00.0100.0%9.03.00.075.0%16.04.00.080.0%33.07.00.082.5%95.024.00.079.8%
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3.2. Key Performance Indicators

The key performance indicators of Horizon Bancorp compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-3Y+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.2830.311-9%0.106+167%0.186+52%0.175+62%0.327-13%
Book Value Per Share--17.59917.126+3%16.116+9%16.151+9%15.953+10%12.813+37%
Current Ratio--0.0390.102-62%0.379-90%18.164-100%326.283-100%991.127-100%
Debt To Asset Ratio--0.8980.903-1%0.910-1%0.909-1%0.9020%0.896+0%
Debt To Equity Ratio--8.8269.358-6%10.158-13%10.043-12%9.380-6%8.731+1%
Dividend Per Share--0.1610.161+0%0.161+0%0.160+1%0.150+8%0.112+44%
Enterprise Value---6000458716.000-5868808753.000-2%-5672591305.250-5%-5620262944.750-6%-4749289783.436-21%-3232424189.450-46%
Eps--0.5430.257+111%0.135+303%0.297+83%0.368+47%0.299+82%
Ev To Ebitda Ratio---48.288-29.414-39%-30.279-37%-36.162-25%-34.557-28%-31.584-35%
Ev To Sales Ratio---14.196-16.679+17%-17.446+23%-17.404+23%-15.919+12%-12.527-12%
Free Cash Flow Per Share--0.3200.057+463%0.350-9%0.307+4%0.386-17%0.394-19%
Free Cash Flow To Equity Per Share---3.713-1.518-59%-0.260-93%0.344-1180%1.672-322%1.217-405%
Gross Profit Margin---0.2270.593-138%0.046-592%0.149-252%0.030-855%-0.458+102%
Intrinsic Value_10Y_max--15.541----------
Intrinsic Value_10Y_min---4.477----------
Intrinsic Value_1Y_max--1.576----------
Intrinsic Value_1Y_min--0.951----------
Intrinsic Value_3Y_max--4.720----------
Intrinsic Value_3Y_min--1.661----------
Intrinsic Value_5Y_max--7.848----------
Intrinsic Value_5Y_min--1.057----------
Market Cap692768583.000+4%664987284.000651704997.000+2%531703194.750+25%620541555.250+7%659719066.565+1%836640960.551-21%
Net Profit Margin--0.2270.095+138%0.034+572%0.144+58%0.219+3%0.221+3%
Operating Margin--0.2660.065+307%0.071+275%0.158+68%0.250+6%0.268-1%
Operating Ratio--0.7280.933-22%0.929-22%0.841-13%0.750-3%0.732-1%
Pb Ratio0.893+4%0.8570.862-1%0.747+15%0.876-2%0.940-9%1.861-54%
Pe Ratio7.234+4%6.9432.425+186%4.309+61%4.793+45%6.294+10%19.292-64%
Price Per Share15.710+4%15.08014.778+2%12.058+25%14.072+7%14.960+1%18.938-20%
Price To Free Cash Flow Ratio12.270+4%11.7785.702+107%12.542-6%8.687+36%8.729+35%13.583-13%
Price To Total Gains Ratio35.347+4%33.93035.345-4%14.623+132%2.860+1086%29.143+16%29.457+15%
Quick Ratio--0.0410.160-74%0.601-93%33.752-100%398.551-100%575.132-100%
Return On Assets--0.0030.001+116%0.001+319%0.002+87%0.002+36%0.002+29%
Return On Equity--0.0310.015+105%0.009+261%0.019+64%0.023+32%0.023+33%
Total Gains Per Share--0.4440.472-6%0.267+67%0.347+28%0.325+37%0.439+1%
Usd Book Value--776061000.000755282500.000+3%710668500.000+9%712216333.333+9%703513250.000+10%566348275.000+37%
Usd Book Value Change Per Share--0.2830.311-9%0.106+167%0.186+52%0.175+62%0.327-13%
Usd Book Value Per Share--17.59917.126+3%16.116+9%16.151+9%15.953+10%12.813+37%
Usd Dividend Per Share--0.1610.161+0%0.161+0%0.160+1%0.150+8%0.112+44%
Usd Enterprise Value---6000458716.000-5868808753.000-2%-5672591305.250-5%-5620262944.750-6%-4749289783.436-21%-3232424189.450-46%
Usd Eps--0.5430.257+111%0.135+303%0.297+83%0.368+47%0.299+82%
Usd Free Cash Flow--14115000.0002508250.000+463%15445750.000-9%13557583.333+4%17023300.000-17%17418100.000-19%
Usd Free Cash Flow Per Share--0.3200.057+463%0.350-9%0.307+4%0.386-17%0.394-19%
Usd Free Cash Flow To Equity Per Share---3.713-1.518-59%-0.260-93%0.344-1180%1.672-322%1.217-405%
Usd Market Cap692768583.000+4%664987284.000651704997.000+2%531703194.750+25%620541555.250+7%659719066.565+1%836640960.551-21%
Usd Price Per Share15.710+4%15.08014.778+2%12.058+25%14.072+7%14.960+1%18.938-20%
Usd Profit--23943000.00011345250.000+111%5936000.000+303%13099833.333+83%16234800.000+47%13202275.000+81%
Usd Revenue--105674000.00091644500.000+15%83374250.000+27%82896333.333+27%74888550.000+41%59446175.000+78%
Usd Total Gains Per Share--0.4440.472-6%0.267+67%0.347+28%0.325+37%0.439+1%
 EOD+4 -4MRQTTM+24 -16YOY+26 -143Y+29 -115Y+26 -1410Y+21 -19

3.3 Fundamental Score

Let's check the fundamental score of Horizon Bancorp based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-157.234
Price to Book Ratio (EOD)Between0-10.893
Net Profit Margin (MRQ)Greater than00.227
Operating Margin (MRQ)Greater than00.266
Quick Ratio (MRQ)Greater than10.041
Current Ratio (MRQ)Greater than10.039
Debt to Asset Ratio (MRQ)Less than10.898
Debt to Equity Ratio (MRQ)Less than18.826
Return on Equity (MRQ)Greater than0.150.031
Return on Assets (MRQ)Greater than0.050.003
Total5/10 (50.0%)

3.4 Technical Score

Let's check the technical score of Horizon Bancorp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5055.006
Ma 20Greater thanMa 5015.394
Ma 50Greater thanMa 10015.230
Ma 100Greater thanMa 20015.082
OpenGreater thanClose15.840
Total4/5 (80.0%)

4. In-depth Analysis

4.1 About Horizon Bancorp

Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, and time deposits, as well as non-interest- and interest-bearing demand deposits. It also provides commercial, residential real estate, mortgage warehouse Loans, consumer loans, land and home equity, auto, and agriculture loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; debit and credit cards; treasury management; trust and wealth management services; retirement plans; and sells various insurance products. It operates through full-service offices in northern and central Indiana and southern and central Michigan. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.

Fundamental data was last updated by Penke on 2025-07-11 05:34:08.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is cheap.
Based on how much money comes from the company's main activities, the company is cheap.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Horizon Bancorp earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • A Net Profit Margin of 22.7% means that $0.23 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Horizon Bancorp:

  • The MRQ is 22.7%. The company is making a huge profit. +2
  • The TTM is 9.5%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ22.7%TTM9.5%+13.2%
TTM9.5%YOY3.4%+6.1%
TTM9.5%5Y21.9%-12.4%
5Y21.9%10Y22.1%-0.1%
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ22.7%41.9%-19.2%
TTM9.5%31.1%-21.6%
YOY3.4%29.6%-26.2%
3Y14.4%29.0%-14.6%
5Y21.9%25.7%-3.8%
10Y22.1%22.1%0.0%
4.3.1.2. Return on Assets

Shows how efficient Horizon Bancorp is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • 0.3% Return on Assets means that Horizon Bancorp generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Horizon Bancorp:

  • The MRQ is 0.3%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is 0.1%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ0.3%TTM0.1%+0.2%
TTM0.1%YOY0.1%+0.1%
TTM0.1%5Y0.2%-0.1%
5Y0.2%10Y0.2%0.0%
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ0.3%0.2%+0.1%
TTM0.1%0.2%-0.1%
YOY0.1%0.2%-0.1%
3Y0.2%0.2%0.0%
5Y0.2%0.2%+0.0%
10Y0.2%0.2%+0.0%
4.3.1.3. Return on Equity

Shows how efficient Horizon Bancorp is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • 3.1% Return on Equity means Horizon Bancorp generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Horizon Bancorp:

  • The MRQ is 3.1%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 1.5%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ3.1%TTM1.5%+1.6%
TTM1.5%YOY0.9%+0.6%
TTM1.5%5Y2.3%-0.8%
5Y2.3%10Y2.3%+0.0%
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ3.1%2.8%+0.3%
TTM1.5%2.2%-0.7%
YOY0.9%2.6%-1.7%
3Y1.9%2.5%-0.6%
5Y2.3%2.4%-0.1%
10Y2.3%2.6%-0.3%
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4.3.2. Operating Efficiency of Horizon Bancorp.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Horizon Bancorp is operating .

  • Measures how much profit Horizon Bancorp makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • An Operating Margin of 26.6% means the company generated $0.27  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Horizon Bancorp:

  • The MRQ is 26.6%. The company is operating very efficient. +2
  • The TTM is 6.5%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ26.6%TTM6.5%+20.0%
TTM6.5%YOY7.1%-0.6%
TTM6.5%5Y25.0%-18.5%
5Y25.0%10Y26.8%-1.8%
4.3.2.2. Operating Ratio

Measures how efficient Horizon Bancorp is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Banks - Regional industry mean).
  • An Operation Ratio of 0.73 means that the operating costs are $0.73 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Horizon Bancorp:

  • The MRQ is 0.728. The company is efficient in keeping operating costs low. +1
  • The TTM is 0.933. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.728TTM0.933-0.205
TTM0.933YOY0.929+0.004
TTM0.9335Y0.750+0.183
5Y0.75010Y0.732+0.018
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4.4.3. Liquidity of Horizon Bancorp.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Horizon Bancorp is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Banks - Regional industry mean).
  • A Current Ratio of 0.04 means the company has $0.04 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Horizon Bancorp:

  • The MRQ is 0.039. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.102. The company is unable to pay all its short-term debts. -2
Trends
Current periodCompared to+/- 
MRQ0.039TTM0.102-0.063
TTM0.102YOY0.379-0.277
TTM0.1025Y326.283-326.181
5Y326.28310Y991.127-664.844
4.4.3.2. Quick Ratio

Measures if Horizon Bancorp is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • A Quick Ratio of 0.04 means the company can pay off $0.04 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Horizon Bancorp:

  • The MRQ is 0.041. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.160. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.041TTM0.160-0.119
TTM0.160YOY0.601-0.441
TTM0.1605Y398.551-398.391
5Y398.55110Y575.132-176.581
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4.5.4. Solvency of Horizon Bancorp.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Horizon Bancorp assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Horizon Bancorp to Banks - Regional industry mean.
  • A Debt to Asset Ratio of 0.90 means that Horizon Bancorp assets are financed with 89.8% credit (debt) and the remaining percentage (100% - 89.8%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Horizon Bancorp:

  • The MRQ is 0.898. The company is just able to pay all its debts by selling its assets.
  • The TTM is 0.903. The company is just able to pay all its debts by selling its assets.
Trends
Current periodCompared to+/- 
MRQ0.898TTM0.903-0.005
TTM0.903YOY0.910-0.007
TTM0.9035Y0.902+0.001
5Y0.90210Y0.896+0.007
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8980.912-0.014
TTM0.9030.914-0.011
YOY0.9100.331+0.579
3Y0.9090.655+0.254
5Y0.9020.761+0.141
10Y0.8960.845+0.051
4.5.4.2. Debt to Equity Ratio

Measures if Horizon Bancorp is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • A Debt to Equity ratio of 882.6% means that company has $8.83 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Horizon Bancorp:

  • The MRQ is 8.826. The company is unable to pay all its debts with equity. -1
  • The TTM is 9.358. The company is unable to pay all its debts with equity. -1
Trends
Current periodCompared to+/- 
MRQ8.826TTM9.358-0.532
TTM9.358YOY10.158-0.800
TTM9.3585Y9.380-0.021
5Y9.38010Y8.731+0.648
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ8.82610.416-1.590
TTM9.35810.683-1.325
YOY10.1584.228+5.930
3Y10.0437.922+2.121
5Y9.3809.283+0.097
10Y8.73111.348-2.617
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Horizon Bancorp generates.

  • Above 15 is considered overpriced but always compare Horizon Bancorp to the Banks - Regional industry mean.
  • A PE ratio of 6.94 means the investor is paying $6.94 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Horizon Bancorp:

  • The EOD is 7.234. Based on the earnings, the company is cheap. +2
  • The MRQ is 6.943. Based on the earnings, the company is cheap. +2
  • The TTM is 2.425. Based on the earnings, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD7.234MRQ6.943+0.290
MRQ6.943TTM2.425+4.519
TTM2.425YOY4.309-1.884
TTM2.4255Y6.294-3.869
5Y6.29410Y19.292-12.998
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
EOD7.2344.443+2.791
MRQ6.9433.875+3.068
TTM2.4256.132-3.707
YOY4.3094.741-0.432
3Y4.7935.925-1.132
5Y6.2948.400-2.106
10Y19.2929.118+10.174
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Horizon Bancorp:

  • The EOD is 12.270. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 11.778. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The TTM is 5.702. Based on how much money comes from the company's main activities, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD12.270MRQ11.778+0.492
MRQ11.778TTM5.702+6.076
TTM5.702YOY12.542-6.841
TTM5.7025Y8.729-3.027
5Y8.72910Y13.583-4.854
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
EOD12.2700.385+11.885
MRQ11.7780.336+11.442
TTM5.7020.632+5.070
YOY12.542-1.072+13.614
3Y8.6872.007+6.680
5Y8.7290.284+8.445
10Y13.5830.095+13.488
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Horizon Bancorp is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Banks - Regional industry mean).
  • A PB ratio of 0.86 means the investor is paying $0.86 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Horizon Bancorp:

  • The EOD is 0.893. Based on the equity, the company is cheap. +2
  • The MRQ is 0.857. Based on the equity, the company is cheap. +2
  • The TTM is 0.862. Based on the equity, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD0.893MRQ0.857+0.036
MRQ0.857TTM0.862-0.005
TTM0.862YOY0.747+0.114
TTM0.8625Y0.940-0.078
5Y0.94010Y1.861-0.922
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
EOD0.8930.495+0.398
MRQ0.8570.432+0.425
TTM0.8620.446+0.416
YOY0.7470.149+0.598
3Y0.8760.355+0.521
5Y0.9400.578+0.362
10Y1.8610.801+1.060
4.6.2. Total Gains per Share

2.4. Latest News of Horizon Bancorp

Does Horizon Bancorp still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Horizon Bancorp to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2025-06-22
16:22
Horizon Bancorp declares $0.16 dividendRead
2025-06-19
00:50
Horizon Bancorp approves $0.16 per share dividendRead

4.7 Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Horizon Bancorp.

4.8.1. Institutions holding Horizon Bancorp

Institutions are holding 71.77% of the shares of Horizon Bancorp.

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2025-03-31BlackRock Inc13.70740.00196044606361920.6024
2025-03-31Vanguard Group Inc5.88380.000725945771422985.8027
2025-03-31Dimensional Fund Advisors, Inc.5.63340.00932484165199760.8107
2025-03-31PL Capital Advisors, LLC3.38167.5526149117480000.5394
2025-03-31State Street Corp2.63840.00071163472-94762-7.5313
2025-03-31Geode Capital Management, LLC2.45830.00131084059281372.6647
2025-03-31Manufacturers Life Insurance Co2.03770.012889858364220.7198
2025-03-31LSV Asset Management1.61430.02587118739781815.9298
2025-03-31Maltese Capital Management LLC1.59871.729705000410006.1747
2025-03-31Hotchkis & Wiley Capital Management LLC1.30740.02957651010958023.4682
2025-03-31Rhino Investment Partners, Inc.1.21861.999853736370001.3199
2025-03-31Northern Trust Corp1.05310.001464380-28920-5.8626
2025-03-31American Century Companies Inc1.05220.0043464010-104459-18.3755
2025-03-31Morgan Stanley - Brokerage Accounts0.95210.0005419837-44135-9.5124
2025-03-31Pacific Ridge Capital Partners, LLC0.90451.586398880-20179-4.8153
2025-03-31Goldman Sachs Group Inc0.87190.0009384495-255543-39.9262
2025-03-31Horizon Bancorp /in/0.84373.1709372045-200685-35.0401
2025-03-31Charles Schwab Investment Management Inc0.80510.001355013-4234-1.1786
2025-03-31Nuveen, LLC0.79640.00163511823511820
2024-12-31Nuveen Asset Management, LLC0.78170.00163447163090.0897
Total 49.540316.130721845940+94997+0.4%

4.9.2. Funds holding Horizon Bancorp

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2025-05-31Vanguard Total Stock Mkt Idx Inv3.01820.0011133092834950.2633
2025-05-31iShares Russell 2000 ETF2.49270.0265109922300
2025-05-31Vanguard Institutional Extnd Mkt Idx Tr1.49520.00965935067221.03
2025-05-31BlackRock Advantage Small Cap Core Instl1.30090.214557366600
2025-04-30DFA US Small Cap Value I1.05250.048546413036070.7832
2025-03-31Fidelity Small Cap Index0.98130.02743271023000.5344
2025-04-30JHancock Regional Bank A0.93550.806412539-10066-2.3819
2025-05-31iShares Russell 2000 Value ETF0.91980.056140558700
2025-04-30JH Financial Opportunities0.85840.734937851800
2025-04-30DFA US Small Cap I0.79080.034534872300
2025-03-31Foundry Partners Micro Cap Value0.78880.930634782500
2025-04-30DFA US Targeted Value I0.6930.037830559700
2025-05-31Avantis US Small Cap Value ETF0.640.0274282239-3926-1.3719
2025-05-30Dimensional US Targeted Value ETF0.59850.0383263902-135-0.0511
2025-05-31State St Russell Sm/Mid Cp® Indx SL Cl I0.55280.008824375800
2025-03-31Kennedy Micro Cap0.54850.7688241881-1307-0.5374
2025-04-30Fidelity Extended Market Index0.54380.0098239813-2292-0.9467
2025-04-30Nuveen Quant Small Cap Equity R60.52360.1101230910-5740-2.4255
2025-05-31Vanguard Russell 2000 ETF0.49590.025621867119610.9049
2025-05-31Schwab US Small-Cap ETF™0.47260.0187208417-555-0.2656
Total 19.70283.9348688387-5936-0.1%

5.3. Insider Transactions

Insiders are holding 2.517% of the shares of Horizon Bancorp.

DateOwnerTypeAmountPricePost Transaction AmountLink
2024-12-04Todd A EtzlerSELL59017.99
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5. Financial Statements




5.1. Latest Balance Sheet

Balance Sheet of 2025-03-31. Currency in USD. All numbers in thousands.

Summary
Total Assets7,625,635
Total Liabilities6,849,574
Total Stockholder Equity776,061
 As reported
Total Liabilities 6,849,574
Total Stockholder Equity+ 776,061
Total Assets = 7,625,635

Assets

Total Assets7,625,635
Total Current Assets222,791
Long-term Assets7,405,847
Total Current Assets
Cash And Cash Equivalents 169,666
Short-term Investments 14,462
Net Receivables 38,663
Total Current Assets  (as reported)222,791
Total Current Assets  (calculated)222,791
+/-0
Long-term Assets
Property Plant Equipment 93,499
Goodwill 155,211
Long Term Investments 2,075,282
Intangible Assets 9,407
Other Assets 7,625,635
Long-term Assets  (as reported)7,405,847
Long-term Assets  (calculated)9,959,034
+/- 2,553,187

Liabilities & Shareholders' Equity

Total Current Liabilities5,777,224
Long-term Liabilities1,075,353
Total Stockholder Equity776,061
Total Current Liabilities
Short-term Debt 87,851
Accounts payable 11,441
Other Current Liabilities 5,765,783
Total Current Liabilities  (as reported)5,777,224
Total Current Liabilities  (calculated)5,865,075
+/- 87,851
Long-term Liabilities
Long term Debt 1,013,372
Long-term Liabilities  (as reported)1,075,353
Long-term Liabilities  (calculated)1,013,372
+/- 61,981
Total Stockholder Equity
Retained Earnings 452,945
Accumulated Other Comprehensive Income -37,406
Other Stockholders Equity 360,522
Total Stockholder Equity (as reported)776,061
Total Stockholder Equity (calculated)776,061
+/-0
Other
Cash and Short Term Investments 184,128
Common Stock Shares Outstanding 43,954
Liabilities and Stockholders Equity 7,625,635
Net Debt 843,706
Net Invested Capital 1,789,433
Net Working Capital -5,554,433
Short Long Term Debt Total 1,013,372



5.2. Balance Sheets Structured

Currency in USD. All numbers in thousands.

 Trend2025-03-312024-12-312024-09-302024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302003-03-312002-12-312002-09-302002-06-302002-03-312001-12-312001-09-302001-06-302001-03-312000-12-312000-09-302000-06-302000-03-311999-12-311999-09-301999-06-301999-03-311998-12-311998-09-301998-06-301998-03-311997-12-311997-09-301997-06-301997-03-311996-12-311996-09-301996-06-301996-03-311995-12-311995-09-301995-06-301995-03-31
> Total Assets 
0
345,800
356,600
368,013
359,100
375,600
371,100
382,038
375,200
387,700
364,600
359,800
362,800
381,000
382,600
416,200
420,000
438,100
416,000
526,000
507,405
533,673
534,206
531,776
516,210
554,245
516,927
587,945
592,704
644,106
699,410
720,130
697,681
779,115
755,089
757,071
823,494
806,279
816,069
913,831
911,706
1,098,631
1,084,319
1,127,875
1,072,983
1,131,141
1,159,189
1,222,430
1,151,886
1,192,283
1,194,246
1,258,874
1,249,676
1,194,447
1,188,631
1,306,857
1,442,851
1,343,296
1,321,224
1,387,020
1,301,660
1,464,415
1,485,058
1,400,919
1,382,390
1,413,737
1,490,810
1,547,162
1,546,831
1,563,265
1,846,776
1,847,677
1,734,250
1,785,907
1,781,024
1,758,276
1,806,583
2,073,251
2,037,045
2,076,922
2,153,965
2,219,307
2,606,833
2,652,401
2,627,918
2,918,080
3,325,658
3,141,156
3,169,643
3,321,178
3,519,658
3,964,303
3,969,750
4,076,611
4,150,561
4,246,688
5,051,639
5,098,682
5,186,714
5,244,363
5,351,325
5,739,262
5,790,143
5,886,614
6,055,528
6,109,227
7,534,240
7,355,432
7,420,328
7,640,936
7,718,695
7,872,518
7,897,995
7,963,353
7,959,434
7,931,195
7,855,707
7,912,527
7,927,457
7,801,146
7,625,635
7,625,6357,801,1467,927,4577,912,5277,855,7077,931,1957,959,4347,963,3537,897,9957,872,5187,718,6957,640,9367,420,3287,355,4327,534,2406,109,2276,055,5285,886,6145,790,1435,739,2625,351,3255,244,3635,186,7145,098,6825,051,6394,246,6884,150,5614,076,6113,969,7503,964,3033,519,6583,321,1783,169,6433,141,1563,325,6582,918,0802,627,9182,652,4012,606,8332,219,3072,153,9652,076,9222,037,0452,073,2511,806,5831,758,2761,781,0241,785,9071,734,2501,847,6771,846,7761,563,2651,546,8311,547,1621,490,8101,413,7371,382,3901,400,9191,485,0581,464,4151,301,6601,387,0201,321,2241,343,2961,442,8511,306,8571,188,6311,194,4471,249,6761,258,8741,194,2461,192,2831,151,8861,222,4301,159,1891,131,1411,072,9831,127,8751,084,3191,098,631911,706913,831816,069806,279823,494757,071755,089779,115697,681720,130699,410644,106592,704587,945516,927554,245516,210531,776534,206533,673507,405526,000416,000438,100420,000416,200382,600381,000362,800359,800364,600387,700375,200382,038371,100375,600359,100368,013356,600345,8000
   > Total Current Assets 
0
109,300
111,900
50,282
98,200
96,100
92,300
22,556
0
0
0
0
0
0
0
0
0
0
0
0
19,663
37,321
35,492
38,590
25,731
49,001
32,193
22,084
34,464
64,171
24,843
39,523
28,784
37,077
37,502
41,368
21,736
26,539
49,158
23,927
21,118
44,187
26,452
60,798
27,418
30,471
27,560
59,304
27,894
35,435
26,262
25,861
57,032
25,967
27,232
44,388
25,793
30,354
21,534
74,688
32,035
31,799
24,923
22,202
38,042
27,610
25,113
458,163
25,847
30,428
49,810
521,252
514,578
521,937
562,150
547,813
562,786
423,502
369,221
375,486
378,140
383,650
1,872,106
1,902,021
1,868,266
2,162,815
2,430,254
2,355,467
2,343,145
2,464,569
2,634,065
3,046,379
3,048,193
3,134,347
626,001
688,823
806,683
795,210
885,246
960,890
1,013,947
1,134,707
1,144,138
1,414,097
1,820,445
4,003,755
4,817,562
876,098
1,264,988
1,178,864
1,128,224
1,159,169
1,117,689
1,172,335
1,078,155
1,105,321
848,130
718,110
816,105
567,590
222,791
222,791567,590816,105718,110848,1301,105,3211,078,1551,172,3351,117,6891,159,1691,128,2241,178,8641,264,988876,0984,817,5624,003,7551,820,4451,414,0971,144,1381,134,7071,013,947960,890885,246795,210806,683688,823626,0013,134,3473,048,1933,046,3792,634,0652,464,5692,343,1452,355,4672,430,2542,162,8151,868,2661,902,0211,872,106383,650378,140375,486369,221423,502562,786547,813562,150521,937514,578521,25249,81030,42825,847458,16325,11327,61038,04222,20224,92331,79932,03574,68821,53430,35425,79344,38827,23225,96757,03225,86126,26235,43527,89459,30427,56030,47127,41860,79826,45244,18721,11823,92749,15826,53921,73641,36837,50237,07728,78439,52324,84364,17134,46422,08432,19349,00125,73138,59035,49237,32119,66300000000000022,55692,30096,10098,20050,282111,900109,3000
       Cash And Cash Equivalents 
0
13,100
17,100
47,382
16,700
16,100
14,700
20,340
0
0
0
0
0
0
0
0
0
0
0
0
17,079
34,469
32,480
35,289
22,906
45,912
29,314
18,875
31,482
60,893
21,422
36,013
25,343
33,629
33,670
37,599
17,566
22,843
45,129
19,239
16,264
38,804
20,774
54,985
22,100
25,106
21,905
53,210
22,135
29,301
19,908
19,964
51,328
20,079
21,714
38,680
19,755
24,303
15,312
68,702
25,829
25,216
18,203
15,683
31,409
20,832
18,462
20,447
19,049
23,743
41,562
30,735
27,053
31,735
40,500
31,721
35,820
50,804
37,318
43,476
38,676
43,857
48,155
48,650
47,612
109,224
83,721
70,832
60,280
65,993
72,662
76,441
63,591
69,018
69,697
74,236
102,118
102,776
99,734
107,286
95,697
179,382
108,339
258,676
537,319
311,165
977,584
598,290
125,000
112,647
112,473
126,317
137,820
231,438
177,344
519,360
272,803
147,816
235,569
294,166
169,666
169,666294,166235,569147,816272,803519,360177,344231,438137,820126,317112,473112,647125,000598,290977,584311,165537,319258,676108,339179,38295,697107,28699,734102,776102,11874,23669,69769,01863,59176,44172,66265,99360,28070,83283,721109,22447,61248,65048,15543,85738,67643,47637,31850,80435,82031,72140,50031,73527,05330,73541,56223,74319,04920,44718,46220,83231,40915,68318,20325,21625,82968,70215,31224,30319,75538,68021,71420,07951,32819,96419,90829,30122,13553,21021,90525,10622,10054,98520,77438,80416,26419,23945,12922,84317,56637,59933,67033,62925,34336,01321,42260,89331,48218,87529,31445,91222,90635,28932,48034,46917,07900000000000020,34014,70016,10016,70047,38217,10013,1000
       Short-term Investments 
0
93,400
92,100
0
78,600
77,000
75,400
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,271
0
0
0
267
0
0
0
12,445
0
0
0
215,695
0
0
0
281,282
296,905
301,185
282,884
275,177
250,103
242,262
239,869
243,078
234,823
224,541
230,631
234,675
238,993
251,976
230,107
301,638
325,219
319,066
333,031
4,783
351,630
396,527
384,204
0
435,356
449,817
430,702
431,045
433,501
435,615
497,704
482,801
479,976
482,453
514,144
508,591
519,430
366,289
323,492
323,764
331,033
330,970
435,673
444,982
462,476
455,239
557,213
439,831
474,222
505,051
509,844
509,665
507,736
526,195
542,305
600,348
687,142
673,419
767,230
841,079
900,476
935,140
1,015,343
1,134,025
1,262,175
1,691,186
1,669,634
1,160,812
1,112,512
1,041,020
985,655
997,558
943,441
905,813
865,168
547,251
535,319
527,054
541,170
233,677
14,462
14,462233,677541,170527,054535,319547,251865,168905,813943,441997,558985,6551,041,0201,112,5121,160,8121,669,6341,691,1861,262,1751,134,0251,015,343935,140900,476841,079767,230673,419687,142600,348542,305526,195507,736509,665509,844505,051474,222439,831557,213455,239462,476444,982435,673330,970331,033323,764323,492366,289519,430508,591514,144482,453479,976482,801497,704435,615433,501431,045430,702449,817435,3560384,204396,527351,6304,783333,031319,066325,219301,638230,107251,976238,993234,675230,631224,541234,823243,078239,869242,262250,103275,177282,884301,185296,905281,282000215,69500012,4450002670001,271000000000000000075,40077,00078,600092,10093,4000
       Net Receivables 
0
2,800
2,700
2,900
2,900
3,000
2,200
2,216
0
0
0
0
0
0
0
0
0
0
0
0
2,584
2,852
3,012
3,301
2,825
3,089
2,879
3,209
2,982
3,278
3,421
3,510
3,441
3,448
3,832
3,769
4,170
3,696
4,029
4,688
4,854
5,383
5,678
5,813
5,318
5,365
5,655
6,094
5,759
6,134
6,354
5,897
5,704
5,888
5,518
5,708
6,038
6,051
6,222
5,986
6,206
6,583
6,720
6,519
6,633
6,778
6,651
6,671
6,798
6,685
8,248
7,716
7,549
7,749
7,506
7,501
7,536
8,280
8,411
8,246
8,431
8,823
10,862
10,535
10,476
11,526
12,702
12,713
12,581
13,316
14,880
16,244
12,044
12,993
13,999
14,239
17,423
19,015
18,282
18,828
17,774
20,185
20,456
21,396
20,951
21,702
24,762
26,137
27,476
28,996
30,096
35,294
36,428
37,536
37,850
38,710
40,008
43,240
39,366
39,747
38,663
38,66339,74739,36643,24040,00838,71037,85037,53636,42835,29430,09628,99627,47626,13724,76221,70220,95121,39620,45620,18517,77418,82818,28219,01517,42314,23913,99912,99312,04416,24414,88013,31612,58112,71312,70211,52610,47610,53510,8628,8238,4318,2468,4118,2807,5367,5017,5067,7497,5497,7168,2486,6856,7986,6716,6516,7786,6336,5196,7206,5836,2065,9866,2226,0516,0385,7085,5185,8885,7045,8976,3546,1345,7596,0945,6555,3655,3185,8135,6785,3834,8544,6884,0293,6964,1703,7693,8323,4483,4413,5103,4213,2782,9823,2092,8793,0892,8253,3013,0122,8522,5840000000000002,2162,2003,0002,9002,9002,7002,8000
       Other Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
722,260
744,375
761,908
765,207
827,477
860,579
888,455
857,546
900,425
905,184
965,876
920,822
882,419
896,522
923,383
1,052,760
943,407
913,718
929,775
863,086
978,994
1,019,402
943,933
855,112
883,998
981,761
1,039,032
1,036,516
1,047,160
731,118
778,194
671,550
704,830
628,122
622,732
643,861
1,028,822
1,088,711
1,127,303
1,194,607
1,255,541
1,377,416
1,397,854
1,347,702
1,586,826
1,776,618
1,832,091
1,796,062
1,880,209
2,036,679
2,444,029
2,464,822
2,526,141
2,552,304
2,542,804
3,080,801
3,145,040
3,052,236
2,973,138
2,967,689
3,210,228
3,183,096
2,903,207
2,545,853
1,979,702
2,145,582
-909,141
152,476
-3,799
142,569
163,751
174,248
268,974
215,194
561,786
312,811
192,224
276,129
0
0
00276,129192,224312,811561,786215,194268,974174,248163,751142,569-3,799152,476-909,1412,145,5821,979,7022,545,8532,903,2073,183,0963,210,2282,967,6892,973,1383,052,2363,145,0403,080,8012,542,8042,552,3042,526,1412,464,8222,444,0292,036,6791,880,2091,796,0621,832,0911,776,6181,586,8261,347,7021,397,8541,377,4161,255,5411,194,6071,127,3031,088,7111,028,822643,861622,732628,122704,830671,550778,194731,1181,047,1601,036,5161,039,032981,761883,998855,112943,9331,019,402978,994863,086929,775913,718943,4071,052,760923,383896,522882,419920,822965,876905,184900,425857,546888,455860,579827,477765,207761,908744,375722,26000000000000000000000000000000000000000000
   > Long-term Assets 
0
236,500
244,700
317,731
260,900
279,500
278,800
359,482
0
0
100
0
0
-100
0
0
-100
0
0
0
83,871
85,258
498,714
493,186
81,444
505,244
484,734
565,861
558,240
579,935
674,567
680,607
668,897
742,038
717,587
716,075
801,758
779,740
766,911
889,904
890,588
1,054,444
1,057,867
1,067,077
1,045,565
1,100,670
1,131,629
1,163,126
1,123,992
1,156,848
1,167,984
1,233,013
1,192,644
1,168,480
1,161,399
1,262,469
1,417,058
1,312,942
1,299,690
1,312,332
1,269,625
1,432,616
1,460,135
1,378,717
1,344,348
1,386,127
1,465,697
1,088,999
1,520,984
1,532,837
1,796,966
1,326,975
1,219,672
1,263,970
1,218,874
1,210,463
1,243,797
1,649,749
1,667,824
1,701,436
1,775,825
1,835,657
735,808
750,380
759,652
755,265
895,396
785,689
826,498
856,609
885,436
917,924
921,557
942,264
3,524,560
3,557,865
4,244,956
4,303,472
4,301,468
4,285,939
4,337,378
4,604,555
4,646,005
4,472,517
4,235,083
2,105,472
2,716,678
2,982,209
3,386,304
6,458,273
6,590,471
3,285,433
6,780,306
6,788,566
6,879,072
263,420
7,007,577
7,194,417
7,111,352
7,233,556
7,405,847
7,405,8477,233,5567,111,3527,194,4177,007,577263,4206,879,0726,788,5666,780,3063,285,4336,590,4716,458,2733,386,3042,982,2092,716,6782,105,4724,235,0834,472,5174,646,0054,604,5554,337,3784,285,9394,301,4684,303,4724,244,9563,557,8653,524,560942,264921,557917,924885,436856,609826,498785,689895,396755,265759,652750,380735,8081,835,6571,775,8251,701,4361,667,8241,649,7491,243,7971,210,4631,218,8741,263,9701,219,6721,326,9751,796,9661,532,8371,520,9841,088,9991,465,6971,386,1271,344,3481,378,7171,460,1351,432,6161,269,6251,312,3321,299,6901,312,9421,417,0581,262,4691,161,3991,168,4801,192,6441,233,0131,167,9841,156,8481,123,9921,163,1261,131,6291,100,6701,045,5651,067,0771,057,8671,054,444890,588889,904766,911779,740801,758716,075717,587742,038668,897680,607674,567579,935558,240565,861484,734505,24481,444493,186498,71485,25883,871000-10000-1000010000359,482278,800279,500260,900317,731244,700236,5000
       Property Plant Equipment 
0
10,700
10,900
11,027
11,200
11,700
12,400
14,053
15,000
15,700
16,200
16,100
16,200
16,500
16,900
18,400
18,600
18,900
18,400
18,100
17,836
17,468
17,275
17,281
17,039
16,708
16,528
16,197
15,657
15,406
15,828
15,794
15,757
15,674
15,473
16,460
16,529
16,732
17,390
17,561
17,485
22,243
21,946
21,425
21,781
22,550
22,891
23,394
23,513
23,861
24,232
24,607
25,054
25,575
26,424
28,280
29,548
30,210
29,972
30,534
30,628
34,458
34,274
34,194
34,710
33,255
34,289
34,665
35,775
35,980
40,297
42,184
42,431
43,362
43,473
46,194
47,013
50,853
50,945
52,461
53,989
54,778
60,700
60,798
60,190
61,186
67,265
66,357
66,314
65,358
73,743
75,529
75,408
75,063
75,348
74,331
93,822
91,469
92,800
92,209
92,785
92,232
92,189
92,416
92,109
88,604
93,866
93,441
93,075
93,778
92,356
92,677
91,814
95,053
94,716
94,583
94,303
93,695
93,544
93,864
93,499
93,49993,86493,54493,69594,30394,58394,71695,05391,81492,67792,35693,77893,07593,44193,86688,60492,10992,41692,18992,23292,78592,20992,80091,46993,82274,33175,34875,06375,40875,52973,74365,35866,31466,35767,26561,18660,19060,79860,70054,77853,98952,46150,94550,85347,01346,19443,47343,36242,43142,18440,29735,98035,77534,66534,28933,25534,71034,19434,27434,45830,62830,53429,97230,21029,54828,28026,42425,57525,05424,60724,23223,86123,51323,39422,89122,55021,78121,42521,94622,24317,48517,56117,39016,73216,52916,46015,47315,67415,75715,79415,82815,40615,65716,19716,52816,70817,03917,28117,27517,46817,83618,10018,40018,90018,60018,40016,90016,50016,20016,10016,20015,70015,00014,05312,40011,70011,20011,02710,90010,7000
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,787
5,910
5,910
5,910
5,910
5,910
5,910
5,910
5,910
5,910
19,748
19,748
19,748
19,748
19,748
19,748
20,483
28,034
28,034
28,176
28,176
28,176
49,214
49,600
49,600
56,458
75,596
77,052
77,644
77,644
93,925
119,880
119,880
119,880
119,880
119,880
145,690
151,111
151,238
151,238
151,238
151,238
151,238
151,238
151,238
151,238
162,788
154,572
154,572
154,572
155,211
155,211
155,211
155,211
155,211
155,211
155,211
155,211
155,211
155,211
155,211
155,211155,211155,211155,211155,211155,211155,211155,211155,211155,211155,211154,572154,572154,572162,788151,238151,238151,238151,238151,238151,238151,238151,238151,111145,690119,880119,880119,880119,880119,88093,92577,64477,64477,05275,59656,45849,60049,60049,21428,17628,17628,17628,03428,03420,48319,74819,74819,74819,74819,74819,7485,9105,9105,9105,9105,9105,9105,9105,9105,9105,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,7875,78700000000000000000000000000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,975
22,932
21,190
17,302
15,400
24,263
13,744
11,215
24,620
14,504
13,191
15,245
180,486
176,616
171,910
170,511
170,338
187,770
195,546
183,459
181,508
194,396
201,281
200,657
203,204
202,221
203,542
208,662
212,767
225,828
211,150
208,306
216,953
211,366
211,987
205,712
1,141,988
1,208,666
1,316,239
1,431,623
1,844,470
2,438,874
2,713,255
3,122,422
3,093,792
3,017,191
3,020,306
2,958,978
2,889,309
2,831,651
2,492,889
2,461,044
2,431,335
2,429,549
2,101,367
2,075,282
2,075,2822,101,3672,429,5492,431,3352,461,0442,492,8892,831,6512,889,3092,958,9783,020,3063,017,1913,093,7923,122,4222,713,2552,438,8741,844,4701,431,6231,316,2391,208,6661,141,988205,712211,987211,366216,953208,306211,150225,828212,767208,662203,542202,221203,204200,657201,281194,396181,508183,459195,546187,770170,338170,511171,910176,616180,48615,24513,19114,50424,62011,21513,74424,26315,40017,30221,19022,93214,97500000000000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,332
0
2,969
2,875
2,780
2,687
2,594
2,503
2,412
2,323
2,234
2,150
2,068
1,988
1,908
1,829
1,751
1,674
1,597
1,521
1,447
1,372
2,970
2,855
2,741
2,628
2,515
2,403
2,292
2,182
2,072
4,295
4,048
3,857
3,667
3,477
3,288
3,100
4,422
4,193
3,965
3,738
3,531
7,648
7,371
7,095
8,686
9,583
9,195
9,450
9,082
9,494
12,402
11,844
11,359
10,875
10,390
31,174
28,665
27,658
26,679
25,723
24,782
23,869
22,955
22,058
21,160
21,150
20,941
20,016
19,090
18,164
17,239
16,336
15,433
14,530
13,626
12,754
11,910
11,067
10,223
9,407
9,40710,22311,06711,91012,75413,62614,53015,43316,33617,23918,16419,09020,01620,94121,15021,16022,05822,95523,86924,78225,72326,67927,65828,66531,17410,39010,87511,35911,84412,4029,4949,0829,4509,1959,5838,6867,0957,3717,6483,5313,7383,9654,1934,4223,1003,2883,4773,6673,8574,0484,2952,0722,1822,2922,4032,5152,6282,7412,8552,9701,3721,4471,5211,5971,6741,7511,8291,9081,9882,0682,1502,2342,3232,4122,5032,5942,6872,7802,8752,96901,332000000000000000000000000000000000000000
       Earning Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
938,367
921,376
1,009,764
1,089,351
1,176,680
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000000000001,176,6801,089,3511,009,764921,376938,367000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
       Other Assets 
0
132,400
141,700
219,595
171,100
190,800
191,000
273,578
375,200
387,700
364,500
359,800
362,800
381,100
382,600
416,200
420,100
438,100
416,000
526,000
403,871
411,094
408,590
404,530
409,035
427,644
419,368
482,326
462,327
444,171
544,626
555,360
507,805
571,747
512,638
492,713
546,817
543,507
543,549
592,047
576,239
1,430,815
1,397,811
1,433,044
1,353,341
1,404,334
1,430,239
1,497,101
1,418,332
1,448,706
1,457,046
1,526,011
1,521,498
1,480,508
1,453,508
1,645,943
1,807,149
1,712,831
1,707,196
1,769,577
1,708,199
1,918,037
1,925,791
1,835,703
1,871,626
1,915,866
1,974,746
2,028,174
2,031,299
2,048,942
2,414,920
-550
2,282,372
2,345,047
2,371,776
2,346,007
2,406,519
2,694,178
2,616,158
2,651,055
2,735,183
2,799,423
-1,081
3,402,781
3,387,570
3,673,345
8
3,926,845
3,996,141
4,177,787
157
4,882,227
4,891,307
5,018,875
5,122,817
5,261,749
6,215,794
6,257,114
6,435,946
-2,466
6,721,014
7,133,589
7,253,052
7,455,924
7,744,758
8,214,699
10,250,918
3,497,125
2,769,036
3,100,840
3,307,549
3,427,916
1,545,528
6,525,321
6,616,822
6,562,454
6,747,024
0
6,978,284
7,176,124
7,625,635
7,625,6357,176,1246,978,28406,747,0246,562,4546,616,8226,525,3211,545,5283,427,9163,307,5493,100,8402,769,0363,497,12510,250,9188,214,6997,744,7587,455,9247,253,0527,133,5896,721,014-2,4666,435,9466,257,1146,215,7945,261,7495,122,8175,018,8754,891,3074,882,2271574,177,7873,996,1413,926,84583,673,3453,387,5703,402,781-1,0812,799,4232,735,1832,651,0552,616,1582,694,1782,406,5192,346,0072,371,7762,345,0472,282,372-5502,414,9202,048,9422,031,2992,028,1741,974,7461,915,8661,871,6261,835,7031,925,7911,918,0371,708,1991,769,5771,707,1961,712,8311,807,1491,645,9431,453,5081,480,5081,521,4981,526,0111,457,0461,448,7061,418,3321,497,1011,430,2391,404,3341,353,3411,433,0441,397,8111,430,815576,239592,047543,549543,507546,817492,713512,638571,747507,805555,360544,626444,171462,327482,326419,368427,644409,035404,530408,590411,094403,871526,000416,000438,100420,100416,200382,600381,100362,800359,800364,500387,700375,200273,578191,000190,800171,100219,595141,700132,4000
> Total Liabilities 
0
315,000
324,900
339,460
330,500
346,800
342,200
352,741
341,700
353,700
331,600
327,000
330,100
347,900
350,300
384,300
389,000
408,600
387,400
497,000
477,999
503,564
503,122
500,152
483,475
520,912
482,071
553,002
545,014
606,084
658,766
678,720
655,029
734,189
710,258
710,848
774,383
760,987
766,250
863,399
862,068
1,045,800
1,030,165
1,074,345
1,017,887
1,076,514
1,099,699
1,160,553
1,087,393
1,129,111
1,126,580
1,188,229
1,175,005
1,120,834
1,113,559
1,203,507
1,336,424
1,236,102
1,207,391
1,272,415
1,185,944
1,347,903
1,364,946
1,288,636
1,266,330
1,292,230
1,372,130
1,425,697
1,420,593
1,432,653
1,690,914
1,688,709
1,571,973
1,625,742
1,617,565
1,593,657
1,636,800
1,885,915
1,847,265
1,882,508
1,954,474
2,017,176
2,342,095
2,385,569
2,366,501
2,637,078
2,980,133
2,800,301
2,821,068
2,963,919
3,127,446
3,507,225
3,509,334
3,606,076
3,672,967
3,754,696
4,442,171
4,472,221
4,544,003
4,588,340
4,720,483
5,087,056
5,119,850
5,194,398
5,366,149
5,398,853
6,825,698
6,632,223
6,742,878
6,983,071
7,073,702
7,195,143
7,195,436
7,254,110
7,266,065
7,212,383
7,134,457
7,185,862
7,172,635
7,037,564
6,849,574
6,849,5747,037,5647,172,6357,185,8627,134,4577,212,3837,266,0657,254,1107,195,4367,195,1437,073,7026,983,0716,742,8786,632,2236,825,6985,398,8535,366,1495,194,3985,119,8505,087,0564,720,4834,588,3404,544,0034,472,2214,442,1713,754,6963,672,9673,606,0763,509,3343,507,2253,127,4462,963,9192,821,0682,800,3012,980,1332,637,0782,366,5012,385,5692,342,0952,017,1761,954,4741,882,5081,847,2651,885,9151,636,8001,593,6571,617,5651,625,7421,571,9731,688,7091,690,9141,432,6531,420,5931,425,6971,372,1301,292,2301,266,3301,288,6361,364,9461,347,9031,185,9441,272,4151,207,3911,236,1021,336,4241,203,5071,113,5591,120,8341,175,0051,188,2291,126,5801,129,1111,087,3931,160,5531,099,6991,076,5141,017,8871,074,3451,030,1651,045,800862,068863,399766,250760,987774,383710,848710,258734,189655,029678,720658,766606,084545,014553,002482,071520,912483,475500,152503,122503,564477,999497,000387,400408,600389,000384,300350,300347,900330,100327,000331,600353,700341,700352,741342,200346,800330,500339,460324,900315,0000
   > Total Current Liabilities 
0
295,500
307,000
310,553
298,300
314,700
305,300
302,029
301,700
288,700
286,600
285,000
284,100
306,900
300,300
330,300
335,000
354,600
333,400
392,000
397,800
393,300
427,800
496,831
423,200
517,364
477,780
548,000
540,493
454,040
509,257
514,525
638,325
538,391
692,500
567,160
624,030
630,597
635,729
695,522
694,995
879,087
858,921
907,253
855,979
914,545
937,669
999,586
893,742
909,418
876,914
1,154,955
882,730
794,222
751,371
985,274
979,338
849,807
859,301
952,843
874,560
1,024,010
1,000,249
986,279
1,002,195
1,020,981
990,331
1,206,309
1,065,176
1,046,700
1,307,550
1,525,860
1,315,615
1,298,187
1,328,808
1,473,272
1,356,069
1,499,611
1,450,140
1,717,541
1,465,600
1,585,184
490
507
580
961
1,015
19,972
523
559
700
13,386
1,216
1,441
3,130,242
3,335,212
3,890,494
3,933,780
3,918,682
4,093,005
3,885,043
4,309,952
4,338,770
4,643,307
4,723,588
2,430
1,427
2,235
1,420
5,847,987
5,832,799
5,380
5,707,867
5,722,071
5,716,378
1,138,254
5,587,723
5,641,394
5,738,415
5,701,701
5,777,224
5,777,2245,701,7015,738,4155,641,3945,587,7231,138,2545,716,3785,722,0715,707,8675,3805,832,7995,847,9871,4202,2351,4272,4304,723,5884,643,3074,338,7704,309,9523,885,0434,093,0053,918,6823,933,7803,890,4943,335,2123,130,2421,4411,21613,38670055952319,9721,0159615805074901,585,1841,465,6001,717,5411,450,1401,499,6111,356,0691,473,2721,328,8081,298,1871,315,6151,525,8601,307,5501,046,7001,065,1761,206,309990,3311,020,9811,002,195986,2791,000,2491,024,010874,560952,843859,301849,807979,338985,274751,371794,222882,7301,154,955876,914909,418893,742999,586937,669914,545855,979907,253858,921879,087694,995695,522635,729630,597624,030567,160692,500538,391638,325514,525509,257454,040540,493548,000477,780517,364423,200496,831427,800393,300397,800392,000333,400354,600335,000330,300300,300306,900284,100285,000286,600288,700301,700302,029305,300314,700298,300310,553307,000295,5000
       Short-term Debt 
0
8,700
22,200
21,569
13,500
26,200
17,400
12,849
0
0
0
0
0
0
0
0
0
0
0
0
94,725
14,700
6,757
109,468
16,093
105,257
98,009
127,637
142,950
16,696
22,434
24,409
158,985
48,252
156,536
20,241
48,121
36,908
23,880
82,281
58,983
72,712
72,108
50,024
76,754
72,988
120,579
83,842
62,279
86,689
78,661
258,852
258,852
0
0
142,195
0
0
0
0
0
0
0
0
0
230,141
336,095
195,848
310,889
339,880
333,150
231,147
208,899
282,837
242,505
181,246
236,043
340,201
350,113
234,725
440,415
385,236
373,901
487,067
430,507
492,883
569,908
19,500
319,993
485,304
498,609
12,500
562,551
567,143
0
193,805
0
0
0
158,941
0
0
0
109,462
0
178,500
195,200
200,881
428,100
0
0
742,684
0
0
0
652,902
0
128,169
122,399
89,912
87,851
87,85189,912122,399128,1690652,902000742,68400428,100200,881195,200178,5000109,462000158,941000193,8050567,143562,55112,500498,609485,304319,99319,500569,908492,883430,507487,067373,901385,236440,415234,725350,113340,201236,043181,246242,505282,837208,899231,147333,150339,880310,889195,848336,095230,141000000000142,19500258,852258,85278,66186,68962,27983,842120,57972,98876,75450,02472,10872,71258,98382,28123,88036,90848,12120,241156,53648,252158,98524,40922,43416,696142,950127,63798,009105,25716,093109,4686,75714,70094,72500000000000012,84917,40026,20013,50021,56922,2008,7000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
388,387
0
0
0
487,067
430,507
492,883
569,908
308,105
319,993
485,304
498,609
604,352
562,551
567,143
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000000000000000000567,143562,551604,352498,609485,304319,993308,105569,908492,883430,507487,067000388,3870000000000000000000000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
0
600
600
0
700
800
600
0
800
600
700
700
800
600
800
800
900
800
800
900
378,784
374,537
1,362
1,015
1,286
1,032
1,025
765
819
712
762
857
735
697
764
751
745
750
731
1,024
1,202
1,547
1,729
1,663
1,315
1,442
1,904
1,771
1,719
1,785
2,409
2,439
883,730
1,966
1,949
1,910
1,849
1,657
1,304
1,135
1,038
1,015
766
781
786
705
582
596
555
911
579
560
552
931
488
506
498
508
477
497
504
461
490
507
580
961
1,015
472
523
559
700
886
1,216
1,441
1,688
2,031
2,471
3,005
2,725
3,062
2,772
2,353
2,481
2,712
1,772
2,430
1,427
2,235
1,420
2,402
1,961
5,380
5,922
12,739
16,281
22,249
7,853
11,240
11,400
11,137
11,441
11,44111,13711,40011,2407,85322,24916,28112,7395,9225,3801,9612,4021,4202,2351,4272,4301,7722,7122,4812,3532,7723,0622,7253,0052,4712,0311,6881,4411,2168867005595234721,0159615805074904615044974775084985064889315525605799115555965827057867817661,0151,0381,1351,3041,6571,8491,9101,9491,966883,7302,4392,4091,7851,7191,7711,9041,4421,3151,6631,7291,5471,2021,0247317507457517646977358577627128197651,0251,0321,2861,0151,362374,537378,784900800800900800800600800700700600800060080070006006000
       Other Current Liabilities 
0
286,200
284,200
288,984
284,100
287,700
287,300
289,180
300,900
288,100
285,900
284,300
283,300
306,300
299,500
329,500
334,100
353,800
332,600
391,100
303,075
378,600
416,055
386,348
405,821
411,075
378,746
419,598
396,724
436,632
486,061
489,259
478,605
489,442
535,200
546,168
575,164
592,939
611,118
612,217
634,810
804,828
785,084
855,566
777,910
840,115
815,186
913,973
829,744
820,944
795,844
893,664
885,553
792,256
749,422
841,169
977,489
848,150
857,997
951,708
873,522
1,022,995
999,483
985,498
1,001,409
1,020,276
989,749
1,009,865
1,064,621
1,045,789
1,306,971
1,294,153
1,315,063
1,297,256
1,328,320
1,291,520
1,355,571
1,499,103
1,449,663
1,482,319
1,465,096
1,584,723
-490
-507
-580
-961
-1,015
2,471,210
-523
-559
-700
2,881,003
-1,216
-1,441
3,128,554
3,139,376
3,888,023
3,930,775
3,915,957
3,931,002
3,882,271
4,307,599
4,336,289
4,531,133
4,721,816
-178,500
-195,200
-200,881
-428,100
5,845,585
5,830,838
-5,380
5,701,945
5,709,332
5,700,097
1,138,254
5,579,870
5,630,154
5,727,015
5,600,652
5,765,783
5,765,7835,600,6525,727,0155,630,1545,579,8701,138,2545,700,0975,709,3325,701,945-5,3805,830,8385,845,585-428,100-200,881-195,200-178,5004,721,8164,531,1334,336,2894,307,5993,882,2713,931,0023,915,9573,930,7753,888,0233,139,3763,128,554-1,441-1,2162,881,003-700-559-5232,471,210-1,015-961-580-507-4901,584,7231,465,0961,482,3191,449,6631,499,1031,355,5711,291,5201,328,3201,297,2561,315,0631,294,1531,306,9711,045,7891,064,6211,009,865989,7491,020,2761,001,409985,498999,4831,022,995873,522951,708857,997848,150977,489841,169749,422792,256885,553893,664795,844820,944829,744913,973815,186840,115777,910855,566785,084804,828634,810612,217611,118592,939575,164546,168535,200489,442478,605489,259486,061436,632396,724419,598378,746411,075405,821386,348416,055378,600303,075391,100332,600353,800334,100329,500299,500306,300283,300284,300285,900288,100300,900289,180287,300287,700284,100288,984284,200286,2000
   > Long-term Liabilities 
0
19,500
17,900
28,907
32,200
32,100
36,900
50,712
40,000
65,000
45,000
42,000
46,000
41,000
50,000
54,000
54,000
54,000
54,000
105,000
80,200
110,300
78,948
3,321
60,300
3,548
4,291
5,002
4,521
152,044
149,509
164,195
16,704
195,798
17,758
144,060
150,353
130,390
130,521
167,877
167,073
166,713
171,244
167,092
161,908
161,969
162,030
160,967
193,651
219,693
249,666
33,274
292,275
326,612
362,188
218,233
357,086
386,295
348,090
319,572
311,384
323,893
364,697
302,357
264,135
271,249
381,799
219,388
355,417
385,953
383,364
163,399
256,358
327,555
288,757
120,484
280,731
386,304
397,125
164,967
488,874
431,992
406,659
191,745
463,343
525,757
607,326
180,990
357,509
522,866
495,759
386,461
557,999
562,591
542,725
419,484
551,677
538,441
625,321
497,801
835,440
777,104
781,080
551,091
642,561
554,432
786,188
771,817
844,300
1,135,084
1,240,903
5,380
1,487,569
1,532,039
1,549,687
6,074,129
1,546,734
1,544,468
1,434,220
1,335,863
1,075,353
1,075,3531,335,8631,434,2201,544,4681,546,7346,074,1291,549,6871,532,0391,487,5695,3801,240,9031,135,084844,300771,817786,188554,432642,561551,091781,080777,104835,440497,801625,321538,441551,677419,484542,725562,591557,999386,461495,759522,866357,509180,990607,326525,757463,343191,745406,659431,992488,874164,967397,125386,304280,731120,484288,757327,555256,358163,399383,364385,953355,417219,388381,799271,249264,135302,357364,697323,893311,384319,572348,090386,295357,086218,233362,188326,612292,27533,274249,666219,693193,651160,967162,030161,969161,908167,092171,244166,713167,073167,877130,521130,390150,353144,06017,758195,79816,704164,195149,509152,0444,5215,0024,2913,54860,3003,32178,948110,30080,200105,00054,00054,00054,00054,00050,00041,00046,00042,00045,00065,00040,00050,71236,90032,10032,20028,90717,90019,5000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30,630
30,653
30,676
30,699
30,722
32,282
32,331
32,370
32,409
32,448
32,486
32,525
32,564
32,603
32,642
32,680
32,719
32,758
482,144
463,343
525,757
607,326
304,945
357,509
522,866
495,759
601,810
557,999
562,591
515,510
588,221
513,098
492,427
516,591
549,741
704,613
583,073
587,473
475,000
481,488
439,094
786,188
675,753
844,300
1,074,952
1,163,917
1,142,949
1,311,927
1,352,039
0
0
0
0
0
0
0
00000001,352,0391,311,9271,142,9491,163,9171,074,952844,300675,753786,188439,094481,488475,000587,473583,073704,613549,741516,591492,427513,098588,221515,510562,591557,999601,810495,759522,866357,509304,945607,326525,757463,343482,14432,75832,71932,68032,64232,60332,56432,52532,48632,44832,40932,37032,33132,28230,72230,69930,67630,65330,63000000000000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,490
4,007
4,990
4,336
4,665
4,580
5,316
5,766
5,340
5,492
6,159
5,940
5,439
6,017
6,522
6,467
5,462
5,564
5,725
6,514
5,896
7,743
7,510
7,309
6,288
6,547
7,128
6,578
6,593
7,777
8,436
7,876
7,464
7,318
7,858
10,118
10,142
10,616
9,673
8,854
11,350
12,232
16,385
11,813
9,956
11,183
15,633
15,045
14,384
16,262
18,511
17,011
15,641
13,240
14,292
13,355
12,661
14,047
14,886
16,349
16,283
14,498
23,442
23,272
24,679
29,060
36,426
24,146
19,860
22,270
23,412
24,412
17,659
21,329
27,123
23,308
32,463
26,495
25,895
32,091
26,833
27,853
29,219
70,402
45,829
32,464
58,184
55,180
45,661
60,132
76,986
30,448
0
0
0
0
0
0
0
0
0
00000000030,44876,98660,13245,66155,18058,18432,46445,82970,40229,21927,85326,83332,09125,89526,49532,46323,30827,12321,32917,65924,41223,41222,27019,86024,14636,42629,06024,67923,27223,44214,49816,28316,34914,88614,04712,66113,35514,29213,24015,64117,01118,51116,26214,38415,04515,63311,1839,95611,81316,38512,23211,3508,8549,67310,61610,14210,1187,8587,3187,4647,8768,4367,7776,5936,5787,1286,5476,2887,3097,5107,7435,8966,5145,7255,5645,4626,4676,5226,0175,4395,9406,1595,4925,3405,7665,3164,5804,6654,3364,9904,0074,49000000000000000000000
> Total Stockholder Equity
0
30,800
31,700
28,553
28,600
28,800
28,900
29,297
33,500
34,000
33,000
32,800
32,700
33,100
32,300
31,900
31,000
29,500
28,600
29,000
21,599
22,996
24,201
31,624
32,735
33,333
34,856
34,943
35,690
38,022
40,644
41,410
42,652
44,926
44,831
46,223
49,111
45,292
49,819
50,432
49,638
52,831
54,154
53,530
55,096
54,627
59,490
61,877
64,493
63,172
67,666
70,645
74,671
73,613
75,072
103,350
106,427
107,194
113,833
114,605
115,716
116,512
120,112
112,283
116,060
121,507
118,680
121,465
126,238
130,612
155,862
158,968
162,277
160,165
163,459
164,619
169,783
187,336
189,780
194,414
199,491
202,131
264,738
266,832
261,417
281,002
345,525
340,855
348,575
357,259
392,212
457,078
460,416
470,535
477,594
491,992
609,468
626,461
642,711
656,023
630,842
652,206
670,293
692,216
689,379
710,374
708,542
723,209
677,450
657,865
644,993
677,375
702,559
709,243
693,369
718,812
721,250
726,665
754,822
763,582
776,061
776,061763,582754,822726,665721,250718,812693,369709,243702,559677,375644,993657,865677,450723,209708,542710,374689,379692,216670,293652,206630,842656,023642,711626,461609,468491,992477,594470,535460,416457,078392,212357,259348,575340,855345,525281,002261,417266,832264,738202,131199,491194,414189,780187,336169,783164,619163,459160,165162,277158,968155,862130,612126,238121,465118,680121,507116,060112,283120,112116,512115,716114,605113,833107,194106,427103,35075,07273,61374,67170,64567,66663,17264,49361,87759,49054,62755,09653,53054,15452,83149,63850,43249,81945,29249,11146,22344,83144,92642,65241,41040,64438,02235,69034,94334,85633,33332,73531,62424,20122,99621,59929,00028,60029,50031,00031,90032,30033,10032,70032,80033,00034,00033,50029,29728,90028,80028,60028,55331,70030,8000
   Common Stock
0
0
0
732
0
0
0
708
700
700
700
700
700
700
700
700
700
800
800
900
873
890
899
907
907
902
902
1,038
1,038
1,038
1,038
1,038
1,038
1,040
1,040
1,041
1,043
1,050
1,062
1,062
1,078
1,078
1,092
1,092
1,108
1,109
1,110
1,111
1,112
1,113
1,113
1,114
1,114
1,114
1,114
1,114
1,114
1,114
1,118
1,119
1,122
1,122
1,122
1,122
1,123
1,139
1,126
1,126
1,126
1,135
1,403
31,965
32,037
32,108
32,237
99
32,604
45,438
45,729
45,916
46,064
46,622
106,083
106,370
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000000000000000000000000106,370106,08346,62246,06445,91645,72945,43832,6049932,23732,10832,03731,9651,4031,1351,1261,1261,1261,1391,1231,1221,1221,1221,1221,1191,1181,1141,1141,1141,1141,1141,1141,1141,1131,1131,1121,1111,1101,1091,1081,0921,0921,0781,0781,0621,0621,0501,0431,0411,0401,0401,0381,0381,0381,0381,0381,038902902907907899890873900800800700700700700700700700700700708000732000
   Retained Earnings Total Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
84,417
86,524
89,387
93,198
97,349
101,267
105,402
109,700
114,398
118,157
121,253
123,678
127,154
130,864
134,477
138,500
141,889
144,344
148,685
152,219
156,651
161,026
164,173
169,950
176,123
181,396
185,570
195,292
205,535
214,753
224,035
230,327
241,519
256,617
269,738
260,501
269,849
284,835
301,419
316,080
332,509
348,943
363,742
380,700
398,517
415,277
429,385
440,556
452,209
0
0
0
0
0
0
0
0000000452,209440,556429,385415,277398,517380,700363,742348,943332,509316,080301,419284,835269,849260,501269,738256,617241,519230,327224,035214,753205,535195,292185,570181,396176,123169,950164,173161,026156,651152,219148,685144,344141,889138,500134,477130,864127,154123,678121,253118,157114,398109,700105,402101,26797,34993,19889,38786,52484,41700000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
466
0
0
0
85
-400
800
800
800
800
600
600
600
200
-1,000
-1,800
-2,400
-1,319
-1,203
-782
9
515
358
1,055
430
370
1,771
3,162
2,671
2,506
3,203
1,399
2,075
3,661
-1,210
764
-78
-2,607
-686
-1,510
-3,613
-3,285
-5,202
-2,020
-1,507
-963
-3,898
-1,276
63
1,981
-1,625
-1,013
628
1,751
1,259
6,219
5,719
5,728
4,836
5,989
2,348
4,064
7,179
7,951
7,842
8,773
8,775
10,201
9,101
8,040
1,159
565
-1,729
1,001
2,244
687
1,521
2,427
1,120
1,811
-723
2,698
3,593
2,598
-5,644
-3,777
-1,416
-1,777
-3,551
-10,178
-10,587
-12,963
-8,144
178
4,207
6,646
6,432
9,322
21,270
23,278
27,852
10,686
18,638
7,645
7,345
-54,772
-93,064
-123,121
-106,198
-92,032
-97,919
-123,434
-66,609
-71,276
-73,985
-57,681
-36,301
-37,406
-37,406-36,301-57,681-73,985-71,276-66,609-123,434-97,919-92,032-106,198-123,121-93,064-54,7727,3457,64518,63810,68627,85223,27821,2709,3226,4326,6464,207178-8,144-12,963-10,587-10,178-3,551-1,777-1,416-3,777-5,6442,5983,5932,698-7231,8111,1202,4271,5216872,2441,001-1,7295651,1598,0409,10110,2018,7758,7737,8427,9517,1794,0642,3485,9894,8365,7285,7196,2191,2591,751628-1,013-1,6251,98163-1,276-3,898-963-1,507-2,020-5,202-3,285-3,613-1,510-686-2,607-78764-1,2103,6612,0751,3993,2032,5062,6713,1621,7713704301,0553585159-782-1,203-1,319-2,400-1,800-1,000200600600600800800800800-40085000466000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10,471
10,579
10,610
10,641
10,853
31,894
31,965
32,037
32,108
32,237
32,496
32,604
45,438
45,729
45,916
46,064
46,622
106,083
106,370
106,500
120,758
181,901
182,326
182,402
182,552
212,436
275,059
275,302
275,587
275,804
276,101
378,963
380,735
379,448
379,853
361,019
361,087
362,180
362,945
362,613
359,227
351,954
352,122
351,522
352,412
352,837
354,188
354,035
354,953
0
0
0
0
0
0
0
0000000354,953354,035354,188352,837352,412351,522352,122351,954359,227362,613362,945362,180361,087361,019379,853379,448380,735378,963276,101275,804275,587275,302275,059212,436182,552182,402182,326181,901120,758106,500106,370106,08346,62246,06445,91645,72945,43832,60432,49632,23732,10832,03731,96531,89410,85310,64110,61010,57910,47100000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock0000000000000000000000000000000000000000000000000000000000000000-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,152-17,024-17,024-16,638-16,638-16,373-16,373-16,373-15,525-15,525-15,525-15,525-15,525-15,525-15,525-15,525-15,463-15,463-15,462-15,462-15,462-15,415-14,732-14,382-14,22200000000000000000000
   Other Stockholders Equity 
0
10,500
10,900
6,250
6,900
6,500
6,200
4,606
8,900
7,900
6,800
6,900
6,600
6,900
6,100
6,400
5,500
5,100
6,300
7,900
5,432
5,371
-668
-1,152
-1,177
451
479
5,345
5,345
5,283
5,283
5,283
5,283
5,400
5,400
5,469
5,611
5,209
6,356
6,356
7,172
7,172
7,690
7,528
7,749
7,818
7,983
8,077
8,195
8,279
8,369
8,486
8,553
8,664
8,732
9,650
9,717
9,785
9,974
10,030
10,211
10,253
10,295
10,356
10,446
10,471
10,579
11,736
10,641
10,853
31,894
31,965
32,037
32,108
32,237
32,496
32,604
45,438
45,729
45,916
46,064
46,622
106,083
106,370
106,500
120,758
181,901
182,326
182,402
182,552
212,593
275,059
275,302
275,587
275,804
276,101
378,963
380,735
379,448
379,853
361,019
361,087
362,180
362,945
362,613
359,227
351,954
352,122
351,522
352,412
352,837
354,188
354,035
354,953
355,478
356,400
356,599
357,673
358,453
363,761
360,522
360,522363,761358,453357,673356,599356,400355,478354,953354,035354,188352,837352,412351,522352,122351,954359,227362,613362,945362,180361,087361,019379,853379,448380,735378,963276,101275,804275,587275,302275,059212,593182,552182,402182,326181,901120,758106,500106,370106,08346,62246,06445,91645,72945,43832,60432,49632,23732,10832,03731,96531,89410,85310,64111,73610,57910,47110,44610,35610,29510,25310,21110,0309,9749,7859,7179,6508,7328,6648,5538,4868,3698,2798,1958,0777,9837,8187,7497,5287,6907,1727,1726,3566,3565,2095,6115,4695,4005,4005,2835,2835,2835,2835,3455,345479451-1,177-1,152-6685,3715,4327,9006,3005,1005,5006,4006,1006,9006,6006,9006,8007,9008,9004,6066,2006,5006,9006,25010,90010,5000



5.3. Balance Sheets

Currency in USD. All numbers in thousands.




5.4. Cash Flows

Currency in USD. All numbers in thousands.




5.5. Income Statements

Currency in USD. All numbers in thousands.


5.6. Latest Income Statement

Income Statement (annual), 2024-12-31. Currency in USD. All numbers in thousands.

Gross Profit (+$)
totalRevenue355,378
Cost of Revenue-173,268
Gross Profit182,110182,110
 
Operating Income (+$)
Gross Profit182,110
Operating Expense-154,760
Operating Income27,35027,350
 
Operating Expense (+$)
Research Development0
Selling General Administrative93,276
Selling And Marketing Expenses90,543
Operating Expense154,760183,819
 
Net Interest Income (+$)
Interest Income356,483
Interest Expense-167,879
Other Finance Cost-0
Net Interest Income188,604
 
Pretax Income (+$)
Operating Income27,350
Net Interest Income188,604
Other Non-Operating Income Expenses0
Income Before Tax (EBT)27,350353,750
EBIT - interestExpense = -140,529
27,350
203,308
Interest Expense167,879
Earnings Before Interest and Taxes (EBIT)27,350195,229
Earnings Before Interest and Taxes (EBITDA)39,652
 
After tax Income (+$)
Income Before Tax27,350
Tax Provision--8,079
Net Income From Continuing Ops35,42935,429
Net Income35,429
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses328,028
Total Other Income/Expenses Net-326,400-188,604
 

Technical Analysis of Horizon Bancorp
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Horizon Bancorp. The general trend of Horizon Bancorp is BULLISH with 42.9% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Horizon Bancorp's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (42.9%) Bearish trend (-42.9%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Horizon Bancorp Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Horizon Bancorp.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

  • Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 16.49 < 16.87 < 17.38.

The bearish price targets are: 15.14 > 14.32 > 13.16.

Know someone who trades $HBNC? Share this with them.👇

Horizon Bancorp Daily Support & Resistance Chart
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2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Horizon Bancorp. The current mas is .

The long score for the Moving Averages is 10/14.
The longshort score for the Moving Averages is 6/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close > MA 20: The price is above the MA 20. +1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 < MA 200: The MA 20 is lower than the MA 200. -1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
  • MA 100 trending down: The MA 100 is trending down. -1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Horizon Bancorp Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Horizon Bancorp. The current macd is 0.28661431.

The long score for the Moving Average Convergence/Divergence (MACD) is 3/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 2/(-4 +4).

  • MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Horizon Bancorp price going up in the near term. +2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Horizon Bancorp. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Horizon Bancorp price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Horizon Bancorp Daily Moving Average Convergence/Divergence (MACD) ChartHorizon Bancorp Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Horizon Bancorp. The current adx is 25.00.

The long score for the Directional Movement Index (DMI) is 3/7.
The longshort score for the Directional Movement Index (DMI) is 3/(-7 +7).

  • PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Horizon Bancorp shares, leading to potential upward momentum in its price. +1
  • PLUS_ID > MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bullish trend. The ADX is declining, the bullish trend is weakening. Could be a potential reversal to the downside. +2
Horizon Bancorp Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Horizon Bancorp. The current sar is 16.49.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Horizon Bancorp Daily Parabolic SAR Chart
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3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Horizon Bancorp. The current rsi is 55.01. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 3/13.
The longshort score for the Relative Strength Index (RSI) is 2/(-13 +13).

  • Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
  • Trending down: The RSI is trending down. -1
Horizon Bancorp Daily Relative Strength Index (RSI) ChartHorizon Bancorp Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Horizon Bancorp. The current phase is Continuation in bull market.

The long score for the Stochastic Oscillator is 1/6.
The longshort score for the Stochastic Oscillator is -2/(-6 +6).

  • STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
  • STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Horizon Bancorp price going down in the near term. -2
  • Trending down: The STOCH %K is trending down. -1
Horizon Bancorp Daily Stochastic Oscillator ChartHorizon Bancorp Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Horizon Bancorp. The current cci is 45.57.

Horizon Bancorp Daily Commodity Channel Index (CCI) ChartHorizon Bancorp Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Horizon Bancorp. The current cmo is 4.84218497.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

  • CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1
Horizon Bancorp Daily Chande Momentum Oscillator (CMO) ChartHorizon Bancorp Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Horizon Bancorp. The current willr is -38.70967742.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

  • WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Horizon Bancorp is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.
Horizon Bancorp Daily Williams %R ChartHorizon Bancorp Daily Williams %R Chart
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4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Horizon Bancorp.

Horizon Bancorp Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Horizon Bancorp. The current atr is 0.39672095.

Horizon Bancorp Daily Average True Range (ATR) ChartHorizon Bancorp Daily Average True Range (ATR) Chart
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5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Horizon Bancorp. The current obv is -1,698,814.

Horizon Bancorp Daily On-Balance Volume (OBV) ChartHorizon Bancorp Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Horizon Bancorp. The current mfi is 63.35.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

  • MFI > 50: +1
Horizon Bancorp Daily Money Flow Index (MFI) ChartHorizon Bancorp Daily Money Flow Index (MFI) Chart
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6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Horizon Bancorp.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2025-02-19STOCH LONG EXITThe %K line crosses below the %D line.
2025-02-20MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-02-24CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-02-26STOCH SHORT EXITThe %K line crosses above the %D line.
2025-02-28SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-03-04STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-03-05SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-10BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-03-12RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-13STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-14STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-20STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-21WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-24SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-25SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2025-03-26MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-03-28SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-31MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2025-04-01STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-02SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-04-03SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-04ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-07STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-08STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-04-09SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-04-10STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-11SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2025-04-14RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-17MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2025-04-22DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-04-23SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-04-24WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-04-25STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-28STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-29CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-04-30STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-01CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-05-02STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2025-05-06STOCH LONG EXITThe %K line crosses below the %D line.
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2025-05-08STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-09STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-12CCI LONG ENTRY SHORT CLOSE100 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-05-13STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-14STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-15STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-16STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-21CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-05-22MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-05-23DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-05-27DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-28STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-05-29DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-05-30DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-02STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-03DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-04DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-06-05DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2025-06-06DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-09CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-06-12MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2025-06-13MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-06-17CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-06-20STOCH SHORT EXITThe %K line crosses above the %D line.
2025-06-23DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-06-24MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-06-25STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-26STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-06-30STOCH LONG EXITThe %K line crosses below the %D line.
2025-07-01STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-07-07RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2025-07-11SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside

6.3. Candlestick Patterns

Horizon Bancorp Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Horizon Bancorp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5055.006
Ma 20Greater thanMa 5015.394
Ma 50Greater thanMa 10015.230
Ma 100Greater thanMa 20015.082
OpenGreater thanClose15.840
Total4/5 (80.0%)
Penke
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