HBNC
Horizon Bancorp, Inc.
Banks - Regional
Market Cap$1.01B
5Y Perf.+84.8%
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Side-by-side financial analysisHBNC
MOFG
FFIN
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Stock Comparison
HBNC vs MOFG vs FFIN
Revenue, margins, valuation, and 5-year total return — side by side.
MOFG
MidWestOne Financial Group, Inc.
Banks - Regional
Market Cap$1.02B
5Y Perf.+131.6%
FFIN
First Financial Bankshares, Inc.
Banks - Regional
Market Cap$4.83B
5Y Perf.+16.5%
HBNC vs MOFG vs FFIN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot |  HBNC |  MOFG |  FFIN |
|---|---|---|---|
| Industry | Banks - Regional | Banks - Regional | Banks - Regional |
| Market Cap | $1.01B | $1.02B | $4.83B |
| Revenue (TTM) | $96M | $351M | $826M |
| Net Income (TTM) | $-148M | $58M | $254M |
| Gross Margin | -25.0% | 63.2% | 71.8% |
| Operating Margin | -203.2% | 21.3% | 37.5% |
| Forward P/E | 9.4x | 13.8x | 16.5x |
| Total Debt | $404M | $117M | $22M |
| Cash & Equiv. | $67M | $205M | $1.08B |
HBNC vs MOFG vs FFIN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
HBNC
MOFG
FFIN
| Stock | Jun 20 | Jun 26 | Return |
|---|---|---|---|
| Horizon Bancorp, In… (HBNC) | 100 | 184.8 | +84.8% |
| MidWestOne Financia… (MOFG) | 100 | 231.6 | +131.6% |
| First Financial Ban… (FFIN) | 100 | 116.5 | +16.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: HBNC vs MOFG vs FFIN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: FFIN leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Horizon Bancorp, Inc. is the stronger pick specifically for valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
🥇FFIN emerged as the overall leader. Track its performance:
HBNC
Horizon Bancorp, Inc.
The Banking Pick
HBNC is the clearest fit if your priority is bank quality.
- NIM 3.6% vs MOFG's 2.5%
- Lower P/E (9.4x vs 13.8x)
Best for: bank quality
MOFG
MidWestOne Financial Group, Inc.
The Banking Pick
MOFG is the clearest fit if your priority is momentum.
- +71.2% vs FFIN's -5.5%
Best for: momentum
FFIN
First Financial Bankshares, Inc.
The Banking Pick
FFIN carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 15 yrs, beta 0.78, yield 2.2%
- Rev growth 11.7%, EPS growth 13.5%
- 136.4% 10Y total return vs HBNC's 128.4%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth |  FFIN | 11.7% NII/revenue growth vs HBNC's -71.0% |
| Value |  HBNC | Lower P/E (9.4x vs 13.8x) |
| Quality / Margins | FFIN | Efficiency ratio 0.3% vs HBNC's 1.6% (lower = leaner) |
| Stability / Safety | FFIN | Beta 0.78 vs MOFG's 1.34, lower leverage |
| Dividends | FFIN | 2.2% yield, 15-year raise streak, vs HBNC's 2.1% |
| Momentum (1Y) |  MOFG | +71.2% vs FFIN's -5.5% |
| Efficiency (ROA) | FFIN | Efficiency ratio 0.3% vs HBNC's 1.6% |
HBNC vs MOFG vs FFIN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2024
FY 2018
HBNC vs MOFG vs FFIN — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLFFINLAGGINGHBNC
Who Leads Where
FFIN leads in 3 of 6 categories
MOFG leads 1 • HBNC leads 0 • 2 tied
Explore the data ↓HBNCHorizon Bancorp, Inc.
0leads
MOFGMidWestOne Financial …
1leads
FFINFirst Financial Banks…
3leads
6 Total Categories
CATEGORYLEADERvs MOFGvs HBNCMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
FFIN3/5
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
FFIN9/9
Total Returns1Y, 3Y, 5Y total returns with dividends
MOFG5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
FFIN2/2
Income & Cash Flow (Last 12 Months)
FFIN leads this category, winning 3 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
FFIN is the larger business by revenue, generating $826M annually — 8.6x HBNC's $96M. FFIN is the more profitable business, keeping 30.7% of every revenue dollar as net income compared to HBNC's -154.3%.
| Metric | HBNCHorizon Bancorp, … | MOFGMidWestOne Financ… | FFINFirst Financial B… |
|---|---|---|---|
| RevenueTrailing 12 months | $96M | $351M | $826M |
| EBITDAEarnings before interest/tax | -$186M | $74M | $320M |
| Net IncomeAfter-tax profit | -$148M | $58M | $254M |
| Free Cash FlowCash after capex | $66M | $79M | $283M |
| Gross MarginGross profit ÷ Revenue | -25.0% | +63.2% | +71.8% |
| Operating MarginEBIT ÷ Revenue | -2.0% | +21.3% | +37.5% |
| Net MarginNet income ÷ Revenue | -154.3% | +16.7% | +30.7% |
| FCF MarginFCF ÷ Revenue | +68.5% | +22.5% | +34.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -5.6% | +113.6% | -7.7% |
FFIN leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
Evenly matched — HBNC and MOFG each lead in 2 of 5 comparable metrics.
Valuation Metrics
| Metric | HBNCHorizon Bancorp, … | MOFGMidWestOne Financ… | FFINFirst Financial B… |
|---|---|---|---|
| Market CapShares × price | $1.0B | $1.0B | $4.8B |
| Enterprise ValueMkt cap + debt − cash | $1.3B | $929M | $3.8B |
| Trailing P/EPrice ÷ TTM EPS | -6.27x | -13.93x | 19.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.40x | 13.77x | 16.54x |
| PEG RatioP/E ÷ EPS growth rate | — | — | 4.22x |
| EV / EBITDAEnterprise value multiple | — | — | 11.79x |
| Price / SalesMarket cap ÷ Revenue | 9.81x | 4.94x | 5.85x |
| Price / BookPrice ÷ Book value/share | 1.47x | 1.50x | 2.52x |
| Price / FCFMarket cap ÷ FCF | 24.29x | 16.74x | 15.72x |
Evenly matched — HBNC and MOFG each lead in 2 of 5 comparable metrics.
Profitability & Efficiency
FFIN leads this category, winning 9 of 9 comparable metrics.
Profitability & Efficiency
FFIN delivers a 14.2% return on equity — every $100 of shareholder capital generates $14 in annual profit, vs $-15 for HBNC. FFIN carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to HBNC's 0.59x. On the Piotroski fundamental quality scale (0–9), FFIN scores 8/9 vs MOFG's 4/9, reflecting strong financial health.
| Metric | HBNCHorizon Bancorp, … | MOFGMidWestOne Financ… | FFINFirst Financial B… |
|---|---|---|---|
| ROE (TTM)Return on equity | -14.7% | +10.0% | +14.2% |
| ROA (TTM)Return on assets | -2.2% | +0.9% | +1.7% |
| ROICReturn on invested capital | -9.3% | -9.4% | +12.4% |
| ROCEReturn on capital employed | -4.7% | -9.5% | +16.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 4 | 8 |
| Debt / EquityFinancial leverage | 0.59x | 0.21x | 0.01x |
| Net DebtTotal debt minus cash | $338M | -$88M | -$1.1B |
| Cash & Equiv.Liquid assets | $67M | $205M | $1.1B |
| Total DebtShort + long-term debt | $404M | $117M | $22M |
| Interest CoverageEBIT ÷ Interest expense | -1.62x | 0.67x | 1.54x |
FFIN leads this category, winning 9 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
MOFG leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MOFG five years ago would be worth $17,984 today (with dividends reinvested), compared to $7,409 for FFIN. Over the past 12 months, MOFG leads with a +71.2% total return vs FFIN's -5.5%. The 3-year compound annual growth rate (CAGR) favors MOFG at 33.6% vs FFIN's 7.5% — a key indicator of consistent wealth creation.
| Metric | HBNCHorizon Bancorp, … | MOFGMidWestOne Financ… | FFINFirst Financial B… |
|---|---|---|---|
| YTD ReturnYear-to-date | +21.3% | +30.2% | +13.5% |
| 1-Year ReturnPast 12 months | +34.7% | +71.2% | -5.5% |
| 3-Year ReturnCumulative with dividends | +107.4% | +138.2% | +24.3% |
| 5-Year ReturnCumulative with dividends | +27.7% | +79.8% | -25.9% |
| 10-Year ReturnCumulative with dividends | +128.4% | +96.2% | +136.4% |
| CAGR (3Y)Annualised 3-year return | +27.5% | +33.6% | +7.5% |
MOFG leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — HBNC and FFIN each lead in 1 of 2 comparable metrics.
Risk & Volatility
FFIN is the less volatile stock with a 0.78 beta — it tends to amplify market swings less than MOFG's 1.34 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HBNC currently trades 100.0% from its 52-week high vs FFIN's 86.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HBNCHorizon Bancorp, … | MOFGMidWestOne Financ… | FFINFirst Financial B… |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.97x | 1.34x | 0.78x |
| 52-Week HighHighest price in past year | $19.75 | $49.69 | $38.74 |
| 52-Week LowLowest price in past year | $14.34 | $26.52 | $28.11 |
| % of 52W HighCurrent price vs 52-week peak | +100.0% | +99.2% | +86.9% |
| RSI (14)Momentum oscillator 0–100 | 67.3 | 74.9 | 61.3 |
| Avg Volume (50D)Average daily shares traded | 306K | 0 | 683K |
Evenly matched — HBNC and FFIN each lead in 1 of 2 comparable metrics.
Analyst Outlook
FFIN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: HBNC as "Buy", MOFG as "Buy", FFIN as "Hold". Consensus price targets imply 16.6% upside for FFIN (target: $39) vs -36.6% for MOFG (target: $31). For income investors, FFIN offers the higher dividend yield at 2.20% vs MOFG's 1.97%.
| Metric | HBNCHorizon Bancorp, … | MOFGMidWestOne Financ… | FFINFirst Financial B… |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $20.50 | $31.25 | $39.25 |
| # AnalystsCovering analysts | 9 | 8 | 15 |
| Dividend YieldAnnual dividend ÷ price | +2.1% | +2.0% | +2.2% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 15 |
| Dividend / ShareAnnual DPS | $0.42 | $0.97 | $0.74 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% | 0.0% |
FFIN leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
FFIN leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). MOFG leads in 1 (Total Returns). 2 tied.
Best OverallFirst Financial Bankshares,… (FFIN)Leads 3 of 6 categories
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HBNC vs MOFG vs FFIN: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is HBNC or MOFG or FFIN a better buy right now?
For growth investors, First Financial Bankshares, Inc.
(FFIN) is the stronger pick with 11. 7% revenue growth year-over-year, versus -71. 0% for Horizon Bancorp, Inc. (HBNC). First Financial Bankshares, Inc. (FFIN) offers the better valuation at 19. 0x trailing P/E (16. 5x forward), making it the more compelling value choice. Analysts rate Horizon Bancorp, Inc. (HBNC) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HBNC or MOFG or FFIN?
On forward P/E, Horizon Bancorp, Inc.
is actually cheaper at 9. 4x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — HBNC or MOFG or FFIN?
Over the past 5 years, MidWestOne Financial Group, Inc.
(MOFG) delivered a total return of +79. 8%, compared to -25. 9% for First Financial Bankshares, Inc. (FFIN). Over 10 years, the gap is even starker: FFIN returned +136. 4% versus MOFG's +96. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HBNC or MOFG or FFIN?
By beta (market sensitivity over 5 years), First Financial Bankshares, Inc.
(FFIN) is the lower-risk stock at 0. 78β versus MidWestOne Financial Group, Inc. 's 1. 34β — meaning MOFG is approximately 71% more volatile than FFIN relative to the S&P 500. On balance sheet safety, First Financial Bankshares, Inc. (FFIN) carries a lower debt/equity ratio of 1% versus 59% for Horizon Bancorp, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — HBNC or MOFG or FFIN?
By revenue growth (latest reported year), First Financial Bankshares, Inc.
(FFIN) is pulling ahead at 11. 7% versus -71. 0% for Horizon Bancorp, Inc. (HBNC). On earnings-per-share growth, the picture is similar: First Financial Bankshares, Inc. grew EPS 13. 5% year-over-year, compared to -493. 8% for Horizon Bancorp, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — HBNC or MOFG or FFIN?
First Financial Bankshares, Inc.
(FFIN) is the more profitable company, earning 30. 7% net margin versus -145. 9% for Horizon Bancorp, Inc. — meaning it keeps 30. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FFIN leads at 37. 5% versus -193. 4% for HBNC. At the gross margin level — before operating expenses — FFIN leads at 71. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is HBNC or MOFG or FFIN more undervalued right now?
On forward earnings alone, Horizon Bancorp, Inc.
(HBNC) trades at 9. 4x forward P/E versus 16. 5x for First Financial Bankshares, Inc. — 7. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FFIN: 16. 6% to $39. 25.
08Which pays a better dividend — HBNC or MOFG or FFIN?
All stocks in this comparison pay dividends.
First Financial Bankshares, Inc. (FFIN) offers the highest yield at 2. 2%, versus 2. 0% for MidWestOne Financial Group, Inc. (MOFG).
09Is HBNC or MOFG or FFIN better for a retirement portfolio?
For long-horizon retirement investors, First Financial Bankshares, Inc.
(FFIN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 78), 2. 2% yield, +136. 4% 10Y return). Both have compounded well over 10 years (FFIN: +136. 4%, MOFG: +96. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between HBNC and MOFG and FFIN?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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