HBNC
Horizon Bancorp, Inc. Financial Services - Banks - Regional Investor Relations →
Horizon Bancorp, Inc. (HBNC) closed at $18.58 as of 2026-02-02, trading 37.7% above its 200-week moving average of $13.50. The stock moved further from the line this week, up from 30.7% last week. With a 14-week RSI of 72, HBNC is in overbought territory.
Over the past 1208 weeks of data, HBNC has crossed below its 200-week moving average 8 times. On average, these episodes lasted 31 weeks. The average one-year return after crossing below was -7.1%, suggesting these dips have not historically been reliable buying opportunities for this stock.
With a market cap of $952 million, HBNC is a small-cap stock. Return on equity stands at -26.6%. The stock trades at 1.4x book value.
Over the past 23.2 years, a hypothetical investment of $100 in HBNC would have grown to $1032, compared to $1201 for the S&P 500. HBNC has returned 10.6% annualized vs 11.3% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -77% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Growth of $100: HBNC vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After HBNC Crosses Below the Line?
Across 8 historical episodes, buying HBNC when it crossed below its 200-week moving average produced an average return of -4.4% after 12 months (median -16.0%), compared to +15.4% for the S&P 500 over the same periods. 29% of those episodes were profitable after one year. After 24 months, the average return was +18.9% vs +40.7% for the index.
Each line shows $100 invested at the moment HBNC crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
HBNC has crossed below its 200-week MA 8 times with an average 1-year return of +-7.1% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Oct 2007 | Apr 2010 | 128 | 51.8% | -24.7% | +553.9% |
| Feb 2020 | Dec 2020 | 44 | 51.5% | +24.2% | +59.7% |
| Oct 2022 | Oct 2022 | 1 | 0.3% | -36.3% | +40.1% |
| Dec 2022 | Jan 2023 | 4 | 6.9% | -14.6% | +43.1% |
| Jan 2023 | Jan 2023 | 1 | 4.6% | -1.1% | +46.0% |
| Feb 2023 | Dec 2023 | 43 | 47.3% | -16.3% | +40.4% |
| Jan 2024 | Jul 2024 | 27 | 17.5% | +19.1% | +53.7% |
| Mar 2025 | Apr 2025 | 3 | 7.1% | N/A | +45.7% |
| Average | 31 | — | +-7.1% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02