Horizon Bancorp slides after launching stock offering
** Commercial bank Horizon Bancorp's HBNC.O shares fall 6.9% to $14.95 in extended trading
** HBNC announces launch of stock offering, with base offering size of $90 million, according to presentation
** Proceeds from offering will be used for general purposes, including potential balance sheet repositioning
** Keefe, Bruyette & Woods and Performance Trust Capital Partners are the joint book-running managers for the offering
** HBNC is mulling dumping $1.4 billion of legacy securities, which might result in an after-tax loss of $238 million
** Several regional lenders have turned to bond portfolio rejigs in recent years to boost profitability by dumping low-yielding securities
** HBNC has 44.1 million outstanding shares as of June 30, per prospectus
** 3 of 6 brokerages rate stock "buy" or higher and 3 "hold"; median PT $19 - data compiled by LSEG
** As of last close, HBNC stock down 0.3% YTD
Related Articles
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed Chair
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
Global Crypto Treasury Boom: Which Companies and Tokens Are Becoming Investor Favorites?
A Crypto Treasury refers to a company allocating idle or raised capital to purchase cryptocurrencies, integrating them into its balance sheet as reserve assets or yield-generating tools.
What to Expect From Microsoft Q4 FY2025 Earnings: The King of AI Monetization — A $4 Trillion Market Cap Within Reach?
TradingKey - Cloud giant Microsoft (MSFT.US) will report its fiscal fourth-quarter 2025 earnings (calendar Q2) after the U.S. market close on July 30. Wall Street is bullish, expecting strong results from Azure cloud services and AI-driven growth to propel Microsoft’s market capitalization toward
Ethereum Price Prediction: Will ETH Extend the Rally? What’s the Future Trend?
Ethereum's impressive 2025 rally has been largely fueled by inflows from spot ETFs and a surge in institutional holdings, signaling growing confidence in its role as a core asset in the crypto market. However, to officially confirm the start of a new bull cycle, ETH must break above the critical $4,
