Horizon Bancorp Inc (NASDAQ:HBNC) – Analysts at Piper Jaffray Companies cut their FY2019 earnings estimates for shares of Horizon Bancorp in a note issued to investors on Tuesday, April 9th, according to Zacks Investment Research. Piper Jaffray Companies analyst N. Race now forecasts that the financial services provider will post earnings of $1.57 per share for the year, down from their previous forecast of $1.58. Piper Jaffray Companies also issued estimates for Horizon Bancorp’s Q4 2019 earnings at $0.43 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.46 EPS and FY2020 earnings at $1.75 EPS.
Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $42.99 million for the quarter, compared to analyst estimates of $41.93 million. Horizon Bancorp had a return on equity of 10.87% and a net margin of 24.71%.
Shares of Horizon Bancorp stock traded up $0.51 during trading on Thursday, reaching $17.00. The company’s stock had a trading volume of 87,970 shares, compared to its average volume of 81,526. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $763.74 million, a PE ratio of 13.39 and a beta of 0.99. Horizon Bancorp has a one year low of $14.79 and a one year high of $22.13.
A number of hedge funds have recently added to or reduced their stakes in HBNC. Dimensional Fund Advisors LP grew its position in Horizon Bancorp by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,561,257 shares of the financial services provider’s stock worth $30,835,000 after buying an additional 101,765 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Horizon Bancorp by 52.5% during the second quarter. Bank of New York Mellon Corp now owns 214,660 shares of the financial services provider’s stock valued at $4,442,000 after purchasing an additional 73,931 shares in the last quarter. BlackRock Inc. boosted its holdings in Horizon Bancorp by 3.1% during the fourth quarter. BlackRock Inc. now owns 2,264,359 shares of the financial services provider’s stock valued at $35,732,000 after purchasing an additional 68,067 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Horizon Bancorp by 3.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,666,075 shares of the financial services provider’s stock valued at $32,905,000 after purchasing an additional 62,845 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Horizon Bancorp by 3.4% during the third quarter. Renaissance Technologies LLC now owns 967,309 shares of the financial services provider’s stock valued at $19,104,000 after purchasing an additional 32,199 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 31.50%.
About Horizon Bancorp
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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