US · HBNC
Horizon Bancorp, Inc.
- Sector
- Financial Services · Banks - Regional
- Headquarters
- Michigan City, IN 46360
- Website
- horizonbank.com
Price · as of 2025-12-31
$18.32
Market cap 862.5M
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $29.45 | +60.75% |
| Intrinsic Value(DCF) | $7.20 | -60.7% |
| Graham-Dodd Method(GD) | — | — |
| Graham Formula(GF) | $176.48 | +863.32% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $3.41 | $16.98 | $0.00 | $7.97 | $2.57 |
| 2012 | $6.11 | $17.19 | $15.95 | $10.26 | $27.82 |
| 2013 | $6.76 | $27.92 | $18.38 | $9.48 | $8.92 |
| 2014 | $7.26 | $29.77 | $9.87 | $9.01 | $8.58 |
| 2015 | $7.28 | $16.65 | $10.92 | $9.51 | $18.87 |
| 2016 | $12.40 | $25.75 | $11.10 | $8.57 | $23.42 |
| 2017 | $14.92 | $19.44 | $12.42 | $9.46 | $21.36 |
| 2018 | $12.69 | $21.72 | $12.32 | $10.60 | $43.06 |
| 2019 | $11.14 | $28.31 | $14.58 | $12.07 | $49.02 |
| 2020 | $16.13 | $40.48 | $14.62 | $12.84 | $19.79 |
| 2021 | $16.85 | $44.23 | $20.81 | $14.44 | $10.46 |
| 2022 | $11.28 | $24.80 | $15.28 | $13.14 | $43.68 |
| 2023 | $11.45 | $30.54 | $13.37 | $6.39 | $14.29 |
| 2024 | $15.33 | $30.21 | $12.62 | $8.25 | $15.28 |
| 2025 | $17.03 | $29.45 | $2.69 | $0.00 | $176.48 |
AI valuation
Our deep-learning model estimates Horizon Bancorp, Inc.'s (HBNC) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $29.45
- Current price
- $18.32
- AI upside
- +60.75%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$7.20
-60.7% upside
Graham-Dodd
—
— upside
Graham Formula
$176.48
+863.32% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| HBNC | Horizon Bancorp, Inc. | $18.32 | 862.5M | +61% | -61% | — | +863% | -4.89 | 1.26 | 8.41 | -6.41 | — | 1.65 | -29.46% | -193.40% | -145.86% | -24.44% | -11.47% | -2.49% | 0.59 | -1.50 | 0.09 | 0.09 | -1.80 | -49375.00% | -7097.00% | 314338.00% | 4.80% | 0.04 | 3.20% | 2.45% | -12.00% | 84.66% | -6.02 | 28.86 | 11.65 | -0.14 |
| AMTB | Amerant Bancorp Inc. | $21.35 | 895.69M | +69% | -2% | +18% | +29% | 17.22 | 0.95 | 1.36 | -7.98 | — | 0.95 | 57.37% | 10.09% | 8.00% | 5.64% | -16.82% | 0.52% | 1.11 | 0.28 | 0.43 | 0.43 | 8.06 | -38636.00% | 1397.00% | 3098.00% | 11.02% | 0.02 | -31.43% | 1.28% | 22.10% | 3.53% | -8.54 | -5.77 | -0.86 | -0.17 |
| CCBG | Capital City Bank Group, … | $42.85 | 731.31M | -22% | -26% | -39% | +7% | 11.33 | 1.21 | 2.29 | 2.52 | 695.66 | 1.49 | 84.84% | 25.00% | 20.18% | 11.22% | 52.59% | 1.23% | 0.17 | 1.84 | 0.13 | 0.13 | 0.16 | 163.00% | 673.00% | 1498.00% | 9.15% | 0.02 | 55.89% | 2.49% | 28.20% | 2.87% | 2.82 | 3.37 | 0.71 | -0.53 |
| CCNE | CNB Financial Corporation | $28.01 | 825.63M | -26% | -2% | -6% | +82% | 8.66 | 0.77 | 1.31 | -3.02 | — | 0.84 | 59.11% | 18.71% | 15.16% | 9.23% | 183.63% | 0.91% | 0.24 | 0.49 | 0.16 | 0.16 | -3.93 | -627.00% | 1180.00% | 5319.00% | 11.68% | 0.01 | 185.82% | 4.06% | 35.20% | 50.32% | -3.39 | -4.13 | -0.63 | -0.65 |
| FSBC | Five Star Bancorp | $38.93 | 832.17M | +61% | +95% | -9% | +106% | 13.50 | 1.87 | 3.26 | 11.10 | 47.67 | 1.87 | 58.22% | 32.78% | 24.11% | 14.63% | 21.76% | 1.40% | 0.22 | 0.86 | 0.14 | 0.00 | 1.17 | 2832.00% | 2039.00% | 4194.00% | 8.73% | 0.02 | 25.64% | 0.00% | 0.00% | 0.00% | 11.10 | 12.80 | 3.64 | -0.49 |
| HTB | HomeTrust Bancshares, Inc… | $42.14 | 735.09M | +204% | -23% | -5% | +231% | 10.70 | 1.06 | 1.99 | 1.57 | 74.90 | 1.15 | 65.95% | 23.69% | 18.57% | 10.72% | 37.16% | 1.19% | 0.02 | 0.75 | 0.17 | 0.17 | -3.42 | 1429.00% | 3656.00% | -14940.00% | 4.81% | 0.01 | 19.14% | 1.31% | 14.00% | 30.68% | 1.96 | 4.84 | 0.46 | -0.50 |
| MBWM | Mercantile Bank Corporati… | $51.66 | 887.58M | +39% | -1% | +30% | +14% | 9.63 | 1.18 | 2.30 | 0.98 | 89.56 | 1.35 | 64.03% | 27.46% | 23.87% | 13.56% | 209.76% | 1.38% | 1.14 | 0.79 | 0.29 | 0.29 | 3.31 | 1075.00% | 274.00% | -8789.00% | 1.31% | 0.00 | 26.49% | 0.00% | 0.00% | 0.00% | 1.03 | 9.35 | 0.28 | -0.42 |
| MCB | Metropolitan Bank Holding… | $84.15 | 866.58M | +5% | +146% | +23% | +18% | 12.80 | 1.23 | 1.73 | 3.15 | 110.05 | 1.23 | 52.64% | 19.26% | 13.49% | 9.65% | 13.26% | 0.91% | 0.00 | 0.48 | — | — | -0.12 | 1164.00% | 710.00% | -3919.00% | 9.74% | — | 16.54% | 0.00% | 0.00% | 29.58% | 3.15 | 3.60 | 0.61 | 0.34 |
| NBBK | NB Bancorp, Inc. Common S… | $21.34 | 803.4M | +72% | -16% | +16% | +75% | 16.85 | 0.93 | 2.34 | 8.54 | 4.61 | 0.93 | 52.82% | 19.28% | 13.86% | 5.53% | 6.28% | 0.87% | 0.16 | 0.45 | 0.08 | 0.08 | -1.47 | 36522.00% | 2801.00% | -1756.00% | 5.81% | 0.01 | 6.15% | 0.00% | 0.00% | 39.88% | 8.97 | 12.75 | 1.73 | -0.62 |
| NBN | Northeast Bank | $110.88 | 884.57M | +22% | +249% | +1% | +285% | 10.57 | 1.78 | 2.51 | 6.15 | 32.05 | 1.79 | 58.14% | 35.81% | 23.77% | 19.16% | 19.51% | 2.25% | 0.69 | 0.91 | 0.13 | 0.13 | -0.58 | 3298.00% | 3473.00% | 4802613.00% | 6.06% | 0.02 | 12.49% | 0.04% | 0.40% | 22.46% | 6.30 | 14.83 | 2.26 | -0.38 |
| TRST | TrustCo Bank Corp NY | $43.37 | 799.05M | +32% | -16% | +25% | +6% | 13.18 | 1.17 | 2.89 | 7.10 | 49.80 | 1.17 | 67.08% | 29.18% | 21.97% | 8.97% | 12.60% | 0.96% | 0.28 | 0.90 | 0.26 | 0.26 | 1.59 | 2646.00% | 577.00% | -10000.00% | 0.00% | 0.00 | 0.00% | 0.00% | 0.00% | 0.00% | 7.85 | — | 2.29 | 0.08 |
About Horizon Bancorp, Inc.
Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products. It operates through a network of 78 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.
- CEO
- Thomas Prame
- Employees
- 841
- Beta
- 0.81
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($7.20 ÷ $18.32) − 1 = -60.7% (DCF, example).