Brokerages predict that Horizon Bancorp, Inc. (NASDAQ:HBNC – Get Rating) will report sales of $60.20 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Horizon Bancorp’s earnings. The lowest sales estimate is $59.70 million and the highest is $61.00 million. Horizon Bancorp reported sales of $56.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The business is scheduled to announce its next earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Horizon Bancorp will report full-year sales of $251.53 million for the current financial year, with estimates ranging from $247.80 million to $253.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $269.80 million, with estimates ranging from $265.70 million to $272.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC – Get Rating) last posted its quarterly earnings data on Wednesday, January 26th. The financial services provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $62.80 million during the quarter, compared to analysts’ expectations of $62.90 million. Horizon Bancorp had a net margin of 33.76% and a return on equity of 12.64%. During the same period in the prior year, the business posted $0.52 earnings per share.
In other Horizon Bancorp news, President James D. Neff sold 11,782 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $20.25, for a total transaction of $238,585.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.52% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in HBNC. Marshall Wace LLP bought a new stake in Horizon Bancorp in the first quarter worth $26,000. Lazard Asset Management LLC bought a new stake in shares of Horizon Bancorp during the fourth quarter worth $29,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Horizon Bancorp during the 4th quarter worth $64,000. New York State Teachers Retirement System purchased a new stake in shares of Horizon Bancorp in the 3rd quarter valued at $65,000. Finally, Reilly Financial Advisors LLC acquired a new stake in Horizon Bancorp in the fourth quarter valued at approximately $70,000. Hedge funds and other institutional investors own 53.67% of the company’s stock.
Shares of HBNC stock opened at $18.53 on Thursday. The firm has a fifty day moving average price of $19.84 and a 200 day moving average price of $20.03. Horizon Bancorp has a 12 month low of $15.66 and a 12 month high of $23.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.09. The company has a market cap of $807.22 million, a P/E ratio of 9.41 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Friday, April 8th will be given a $0.15 dividend. The ex-dividend date is Thursday, April 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.24%. Horizon Bancorp’s payout ratio is presently 30.46%.
Horizon Bancorp Company Profile (Get Rating)
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
- Get a free copy of the StockNews.com research report on Horizon Bancorp (HBNC)
- OrganiGram’s Turnaround Begins To Blossom
- Three Dividend Stocks With Growth Potential
- Exelon Stock Still Has Extraordinary Upside
- Ross Stores On The Verge Of Major Rally
- Greenbrier Companies Stock has Green in its Future
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Horizon Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.