Horizon Bancorp Inc (HBNC) Expected to Post Earnings of $0.36 Per Share

Wall Street brokerages predict that Horizon Bancorp Inc (NASDAQ:HBNC) will report $0.36 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Horizon Bancorp’s earnings. The highest EPS estimate is $0.38 and the lowest is $0.32. Horizon Bancorp reported earnings per share of $0.37 during the same quarter last year, which suggests a negative year-over-year growth rate of 2.7%. The business is expected to issue its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Horizon Bancorp will report full year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.58. For the next year, analysts anticipate that the company will report earnings of $1.70 per share, with EPS estimates ranging from $1.68 to $1.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.34 earnings per share 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 analysts’ expectations of $41.93 million. Horizon Bancorp had a return on equity of 10.87% and a net margin of 24.71%.

A number of equities research analysts have commented on HBNC shares. ValuEngine upgraded Horizon Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, February 23rd. Zacks Investment Research cut Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Finally, BidaskClub cut Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.00.

Shares of HBNC traded up $0.13 on Tuesday, reaching $16.52. The stock had a trading volume of 60,680 shares, compared to its average volume of 90,432. The stock has a market cap of $742.18 million, a P/E ratio of 13.01 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.98 and a quick ratio of 0.98. Horizon Bancorp has a twelve month low of $14.79 and a twelve month high of $22.13.

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 31.50%.

A number of large investors have recently made changes to their positions in HBNC. Dimensional Fund Advisors LP grew its holdings in Horizon Bancorp by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,788,474 shares of the financial services provider’s stock valued at $28,777,000 after buying an additional 129,091 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Horizon Bancorp by 10.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,034,509 shares of the financial services provider’s stock valued at $16,645,000 after buying an additional 94,194 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Horizon Bancorp during the 1st quarter valued at $1,316,000. BlackRock Inc. grew its holdings in Horizon Bancorp by 3.1% during the 4th quarter. BlackRock Inc. now owns 2,264,359 shares of the financial services provider’s stock valued at $35,732,000 after buying an additional 68,067 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its holdings in Horizon Bancorp by 20.5% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 264,715 shares of the financial services provider’s stock valued at $4,259,000 after buying an additional 45,043 shares during the last quarter. Hedge funds and other institutional investors own 45.53% of the company’s stock.

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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Earnings History and Estimates for Horizon Bancorp (NASDAQ:HBNC)

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