Horizon Bancorp rises after KBW upgrades to 'outperform'

Horizon Bancorp

26/08/2025 18:54

** Regional lender Horizon Bancorp's HBNC.O shares rise 2.9% to $16.12 after brokerage KBW upgrades rating to "outperform" from "market perform"

** KBW also raises PT to $19 from $18, a 21.3% upside to stock's last close

** Brokerage views HBNC's recent capital raise, securities repositioning and balance sheet deleveraging as the final steps in a string of actions by the management over the last 18-24 months to generate a stable growth model

** Last week, HBNC raised $90 million for a potential rejig of its balance sheet

** KBW says while HBNC's capital raise may not have been well-received by some investors initially, the longer-term benefits of increasing profitability and a cleaner balance sheet will drive the shares higher

** 4 of 6 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $19 - data compiled by LSEG

** As of last close, HBNC stock down 2.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))