Horizon Bancorp (HBNC) Scheduled to Post Quarterly Earnings on Wednesday

Horizon Bancorp (NASDAQ:HBNC) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.30 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $21.81 million during the quarter, compared to the consensus estimate of $51.50 million. Horizon Bancorp had a return on equity of 9.42% and a net margin of 8.63%. On average, analysts expect Horizon Bancorp to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Horizon Bancorp Price Performance

Shares of NASDAQ:HBNC opened at $11.40 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.70 and a current ratio of 0.70. The business’s fifty day moving average price is $12.17 and its two-hundred day moving average price is $12.04. The stock has a market cap of $502.85 million, a PE ratio of 17.81 and a beta of 1.02. Horizon Bancorp has a one year low of $7.69 and a one year high of $14.71.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be given a $0.16 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 5.61%. Horizon Bancorp’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Horizon Bancorp has a consensus rating of “Hold” and an average target price of $13.00.

Institutional Trading of Horizon Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Horizon Bancorp by 24.5% during the second quarter. BlackRock Inc. now owns 5,983,404 shares of the financial services provider’s stock worth $62,287,000 after purchasing an additional 1,177,772 shares during the last quarter. AQR Capital Management LLC lifted its position in Horizon Bancorp by 143.2% during the fourth quarter. AQR Capital Management LLC now owns 561,832 shares of the financial services provider’s stock worth $8,472,000 after buying an additional 330,825 shares during the period. State Street Corp boosted its stake in Horizon Bancorp by 20.4% in the 2nd quarter. State Street Corp now owns 1,374,002 shares of the financial services provider’s stock worth $14,303,000 after buying an additional 232,659 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Horizon Bancorp by 70.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 452,891 shares of the financial services provider’s stock valued at $4,715,000 after buying an additional 187,045 shares during the period. Finally, LSV Asset Management increased its stake in shares of Horizon Bancorp by 41.7% during the 1st quarter. LSV Asset Management now owns 531,296 shares of the financial services provider’s stock valued at $9,919,000 after acquiring an additional 156,246 shares during the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.