HBNC (Horizon Bancorp (IN)) GF Value Rank: 2 (As of Aug. 21, 2026) — 71% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HBNC Horizon Bancorp (IN) HBNC
35 GF Score
Price $19.60
! 4 Warning Signs
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What is Horizon Bancorp (IN) GF Value Rank?

Horizon Bancorp (IN) HBNC -0.28% 35 GF Value Rank is 2 as of Aug. 21, 2026, which is 71% below its 10-year median of 7.00. GuruFocus rates HBNC with a GF Score™ of 35/100. The stock has 4 warning signs investors should review.

Horizon Bancorp (IN) has the GF Value Rank of 2.

GF Value Rank evaluates the exclusive GuruFocus valuation and performance of a stock, rated on a scale from 1 to 10. It is determined by the price-to-GF-Value (P/GF Value) ratio, a proprietary metric calculated based on historical multiples along with an adjustment factor based on a company's past returns and growth and future estimates of the business' performance.

GuruFocus found that for valuation, we cannot simply give stocks a better GF Value rank simply because they have a lower P/GF Value ratio. Backtesting shows that over the long term, the two worst-performing groups are the most expensive group (with the highest P/GF Value ratio) and the least expensive group (with the lowest P/GF Value ratio).

We can understand why the most expensive group underperforms. We were initially puzzled by the underperformance of the least expensive group, but we realized there is a reason why some stocks are super cheap. If they look too undervalued, it is often because the businesses behind them are poor quality. The market realized this and gave them low valuations. In a way, the market is efficient.

After multiple backtesting analyses, we granted the stocks in third-cheapest percentile the highest GF Value rank, as they have performed the best over a full market cycle. Stock performance is actually not as sensitive to valuation as it is to growth and profitability. On average, the companies in the 20%-50% valuation groups have similar performances. Therefore, we should avoid the most expensive and the least expensive stocks. We can be more tolerant of valuation.

A higher score indicates a stock with a relatively low valuation and substantial potential for outperformance. Conversely, a lower score often reflects stocks that are either highly overvalued or deeply undervalued, both of which tend to underperform.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Horizon Bancorp (IN) GF Value Rank Related Terms

HBNC vs CCNE, EQBK, ESQ: GF Value Rank Comparison

For the Banks - Regional subindustry, Horizon Bancorp (IN)'s GF Value Rank, along with its competitors' market caps and GF Value Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Horizon Bancorp (IN) GF Value Rank vs Banks Industry

For the Banks industry and Financial Services sector, Horizon Bancorp (IN)'s GF Value Rank distribution charts can be found below:

* The bar in red indicates where Horizon Bancorp (IN)'s GF Value Rank falls into.


HBNC
35GF Score
Horizon Bancorp (IN) HBNC
GF Value Rank is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about GF Value Rank →
What does a GF Value Rank of 2 mean?
Horizon Bancorp (IN) (HBNC) has a GF Value Rank of 2 as of Aug. 21, 2026. GF Value Rank is given based on historical multiples along with past returns, growth and future estimates of the business' performance. View historical data on Horizon Bancorp (IN) and its competitors. This is 71% below median its historical median of 7.00. Over the past decade, Horizon Bancorp (IN)'s GF Value Rank has ranged from 1.00 to 10.00.
Is Horizon Bancorp (IN)'s GF Value Rank too high?
Horizon Bancorp (IN)'s current GF Value Rank of 2 is 71% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 10.00. Overall, Horizon Bancorp (IN) has a GF Score™ of 35/100, reflecting its overall financial health beyond just this single metric.
How does Horizon Bancorp (IN)'s GF Value Rank compare to CCNE and EQBK?
Horizon Bancorp (IN)'s GF Value Rank of 2 can be compared against companies in the Banks industry. Historically, Horizon Bancorp (IN)'s own GF Value Rank has ranged from 1.00 to 10.00 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good GF Value Rank for a Banks company?
A good GF Value Rank depends on the Banks industry context. However, GF Value Rank should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high GF Value Rank mean?
A high GF Value Rank can signal that a stock is expensive relative to its fundamentals. GF Value Rank is given based on historical multiples along with past returns, growth and future estimates of the business' performance. View historical data on Horizon Bancorp (IN) and its competitors. Horizon Bancorp (IN)'s current GF Value Rank is 2, which is 71% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Horizon Bancorp (IN) stock overvalued right now?
Horizon Bancorp (IN) (HBNC) has a current GF Value Rank of 2. The current GF Value Rank is 2, which is 71% below median its 10-year median of 7.00. Horizon Bancorp (IN)'s overall GF Score™ is 35/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is GF Value Rank calculated?
GF Value Rank is calculated from a company's financial statements. For Horizon Bancorp (IN) (HBNC), the current GF Value Rank is 2 as of Aug. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Horizon Bancorp (IN) Business Description

Other Exchanges 4WC:Germany
Address 515 Franklin Street, Michigan City, IN, USA, 46360
Horizon Bancorp (IN) is a United States-based holding company providing banking services. It is engaged in providing commercial and retail banking services, corporate and individual trust and agency services, and other services incident to banking. The company also provides commercial loans, real estate loans, mortgage warehouse loans, consumer loans, and other credit facilities. The company has one principal business segment, commercial banking.
35GF Score

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GF Value Rank is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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