Equities analysts forecast that Horizon Bancorp, Inc. (NASDAQ:HBNC – Get Rating) will post $63.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Horizon Bancorp’s earnings, with estimates ranging from $63.00 million to $63.30 million. Horizon Bancorp posted sales of $57.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The company is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Horizon Bancorp will report full year sales of $255.00 million for the current year, with estimates ranging from $253.80 million to $257.20 million. For the next fiscal year, analysts anticipate that the business will post sales of $274.13 million, with estimates ranging from $270.00 million to $280.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC – Get Rating) last announced its earnings results on Wednesday, April 27th. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. Horizon Bancorp had a net margin of 34.35% and a return on equity of 12.97%. During the same quarter in the prior year, the firm earned $0.46 earnings per share.
NASDAQ HBNC opened at $18.25 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average price of $19.18 and a 200-day moving average price of $20.08. Horizon Bancorp has a 52 week low of $15.66 and a 52 week high of $23.80. The company has a market cap of $795.02 million, a price-to-earnings ratio of 8.90 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Friday, April 8th were paid a $0.15 dividend. The ex-dividend date was Thursday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 3.29%. Horizon Bancorp’s payout ratio is 29.27%.
In related news, President James D. Neff sold 11,782 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $20.25, for a total transaction of $238,585.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.52% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of HBNC. Meritage Portfolio Management grew its stake in shares of Horizon Bancorp by 5.4% in the 4th quarter. Meritage Portfolio Management now owns 14,550 shares of the financial services provider’s stock worth $303,000 after buying an additional 746 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Horizon Bancorp by 2.6% in the third quarter. UBS Asset Management Americas Inc. now owns 31,904 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 811 shares in the last quarter. Ellsworth Advisors LLC grew its stake in shares of Horizon Bancorp by 3.4% in the fourth quarter. Ellsworth Advisors LLC now owns 27,044 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 895 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Horizon Bancorp by 2.5% during the third quarter. LPL Financial LLC now owns 38,416 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 941 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Horizon Bancorp by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 56,796 shares of the financial services provider’s stock worth $1,184,000 after purchasing an additional 1,012 shares during the last quarter. 54.39% of the stock is currently owned by hedge funds and other institutional investors.
About Horizon Bancorp (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)
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