Fact based stock research
Horizon (NasdaqGS:HBNC)

US4404071049

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Horizon stock research in summary

horizonbank.com

ANALYSIS: With an Obermatt Combined Rank of 29 (worse than 71% compared with investment alternatives), Horizon (Regional Banks, USA) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Horizon are a good value (attractively priced) with a consolidated Value Rank of 79 (better than 79% of alternatives) but show below-average growth (Growth Rank of 35), and are riskily financed (Safety Rank of 5), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 29, is a hold recommendation based on Horizon's financial characteristics. As the company Horizon's key financial metrics exhibit good value (Obermatt Value Rank of 79) but low growth (Obermatt Growth Rank of 35) and risky financing practices (Obermatt Safety Rank of 5), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 79% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	79
Growth Rank	35
Safety Rank	5
Combined Rank	29

Country	USA
Industry	Regional Banks
Index	Dividends USA, Sound Pay USA, NASDAQ
Size class	XX-Large

2-May-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Horizon

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	58	47	65	79
GROWTH
GROWTH	14	55	25	35
SAFETY
SAFETY	77	53	10	5
SENTIMENT
SENTIMENT	n/a	93	10	^new
360° VIEW
360° VIEW	n/a	83	8	^new

Most recent update of the stock research: 2-May-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better Horizon is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	58	47	65	79
GROWTH
GROWTH	14	55	25	35
SAFETY
SAFETY	77	53	10	5
COMBINED
COMBINED	67	47	20	29

Last update of combined financial performance: 2-May-2024. Stock analysis on combined financial performance: The higher the rank of Horizon the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 79 (better than 79% compared with alternatives) for 2024, Horizon shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Horizon. Price-to-Sales is 64 which means that the stock price compared with what market professionals expect for future sales is lower than for 64% of comparable companies, indicating a good value for Horizon's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 72% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 72. Compared with other companies in the same industry, dividend yields of Horizon are expected to be higher than for 88% of all competitors (a Dividend Yield rank of 88). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 79, is a buy recommendation based on Horizon's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Horizon based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	38	40	48	64
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	57	66	52	72
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	43	25	75	72
DIVIDEND YIELD
DIVIDEND YIELD	53	87	84	88
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	58	47	65	79

Last update of Value Rank: 2-May-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Horizon; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 35 (better than 35% compared with alternatives), Horizon shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Horizon. Sales Growth has a rank of 54 which means that currently professionals expect the company to grow more than 54% of its competitors. Stock Returns are also above average with a rank of 57. But Capital Growth has only a rank of 27, which means that currently professionals expect the company to grow its invested capital less than 73% of its competitors. Profit Growth is also low, with a rank of only 38, which means that, currently, professionals expect the company to grow its profits below average. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 35, is a hold recommendation for growth and momentum investors. This is a surprising picture, as the messages from the operating growth indicators of revenues, profits, and invested capital are mixed, while stock returns are above average. It may indicate new intellectual properties, such as brand improvement or a strong market position that shows in revenues but not in the capital. The low profit-growth rate may indicate an early phase where costs are still high, and revenues don't fully cover upfront investments or fixed costs. The positive investor outlook with a 57% peer outperformance is reaffirmed in this case which may be a good sign for an investment into a well-protected high-growth company. This fact needs to be confirmed by researching the company website and press. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	6	65	65	54
PROFIT GROWTH
PROFIT GROWTH	9	34	6	38
CAPITAL GROWTH
CAPITAL GROWTH	n/a	41	37	27
STOCK RETURNS
STOCK RETURNS	43	75	51	57
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	14	55	25	35

Last update of Growth Rank: 2-May-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Horizon.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 5 (better than 5% compared with alternatives), the company Horizon has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Horizon is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Horizon. Liquidity is at 62, meaning the company generates more profit to service its debt than 62% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 8, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 92% of its competitors. Leverage is also high at a rank of 1, which means that the company has an above-average debt-to-equity ratio. It has more debt than 99% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 5 (worse than 95% compared with alternatives), Horizon has a financing structure that is significantly riskier than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	51	74	1	1
REFINANCING
REFINANCING	63	10	10	8
LIQUIDITY
LIQUIDITY	31	59	73	62
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	77	53	10	5

Last update of Safety Rank: 2-May-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Horizon and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	97	68	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	5	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	89	22	^new
MARKET PULSE
MARKET PULSE	n/a	30	7	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	93	10	^new

Last update of Sentiment Rank: 2-May-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Horizon.
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