Wall Street analysts expect Horizon Bancorp, Inc. (NASDAQ:HBNC – Get Rating) to report earnings per share (EPS) of $0.50 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Horizon Bancorp’s earnings, with estimates ranging from $0.50 to $0.51. Horizon Bancorp posted earnings per share of $0.51 in the same quarter last year, which would indicate a negative year over year growth rate of 2%. The company is scheduled to report its next earnings results on Monday, January 1st.
On average, analysts expect that Horizon Bancorp will report full-year earnings of $2.16 per share for the current year, with EPS estimates ranging from $2.11 to $2.25. For the next financial year, analysts forecast that the firm will report earnings of $2.38 per share, with EPS estimates ranging from $2.27 to $2.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. The company had revenue of $62.33 million during the quarter, compared to the consensus estimate of $60.20 million. Horizon Bancorp had a net margin of 34.35% and a return on equity of 13.14%. During the same quarter in the prior year, the firm earned $0.46 EPS.
In other Horizon Bancorp news, President James D. Neff sold 11,782 shares of the firm’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 legal filing with the SEC, which can be accessed through this link. 3.52% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in shares of Horizon Bancorp by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 1,345,839 shares of the financial services provider’s stock worth $25,127,000 after acquiring an additional 5,142 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Horizon Bancorp by 3.3% in the first quarter. BNP Paribas Arbitrage SA now owns 53,030 shares of the financial services provider’s stock valued at $990,000 after buying an additional 1,714 shares during the period. Point72 Hong Kong Ltd purchased a new position in Horizon Bancorp in the first quarter valued at approximately $31,000. Quantbot Technologies LP purchased a new position in Horizon Bancorp in the first quarter valued at approximately $136,000. Finally, Captrust Financial Advisors raised its holdings in Horizon Bancorp by 53.9% in the first quarter. Captrust Financial Advisors now owns 3,399 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,191 shares during the period. 54.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of HBNC opened at $17.24 on Tuesday. The company has a 50-day simple moving average of $18.51 and a 200-day simple moving average of $19.94. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $751.20 million, a PE ratio of 8.41 and a beta of 1.12. Horizon Bancorp has a 52-week low of $15.66 and a 52-week high of $23.80.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.48%. Horizon Bancorp’s payout ratio is 29.27%.
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.
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