Wall Street analysts expect Horizon Bancorp, Inc. (NASDAQ: HBNC – Get Rating) to report revenue of $60.20 million for the current fiscal quarter, Zacks reports. Three analysts provided earnings estimates for Horizon Bancorp, with estimates ranging from $59.70 million to $61.00 million. Horizon Bancorp reported sales of $56.41 million in the same quarter last year, suggesting a positive year-over-year growth rate of 6.7%. The company is due to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Horizon Bancorp to report full-year sales of $251.53 million for the current fiscal year, with estimates ranging from $247.80 million to $253.80 million. of dollars. For next year, analysts expect the company to record sales of $269.80 million, with estimates ranging from $265.70 million to $272.00 million. Zacks Investment Research’s sell averages are an average average based on a survey of sell-side analysts who follow Horizon Bancorp.
Horizon Bancorp Inc (NASDAQ:HBNC – Get Rating) last released its quarterly results on Wednesday, January 26. The financial services provider reported EPS of $0.54 for the quarter, beating the consensus estimate of $0.52 by $0.02. The company posted revenue of $62.80 million in the quarter, versus analyst estimates of $62.90 million. Horizon Bancorp had a net margin of 33.76% and a return on equity of 12.64%. In the same quarter of the previous year, the company achieved EPS of $0.52.
Several equity research analysts have recently commented on HBNC shares. Zacks Investment Research downgraded shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a Wednesday, February 2, report. Raymond James raised his price target on Horizon Bancorp shares from $24.00 to $25.00 and gave the stock a “Strong Buy” rating in a Friday, Dec. 3, report.
NASDAQ HBNC shares opened at $19.36 on Thursday. The stock has a market capitalization of $843.38 million, a price-earnings ratio of 9.83 and a beta of 1.17. The company has a fifty-day moving average of $20.83. The company has a debt ratio of 1.09, a quick ratio of 0.72 and a current ratio of 0.72. Horizon Bancorp has a one-year low of $15.66 and a one-year high of $23.80.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 22. Shareholders of record on Friday, April 8 will receive a dividend of $0.15 per share. This represents a dividend of $0.60 on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, April 7. Horizon Bancorp’s payout ratio is 30.46%.
Separately, Chairman James D. Neff sold 5,000 shares of the company in a transaction dated Thursday, January 13. The shares were sold at an average price of $22.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, Chairman James D. Neff sold 11,782 shares of the company in a trade dated Wednesday, March 2. The shares were sold at an average price of $20.25, for a total transaction of $238,585.50. The disclosure of this sale can be found here. 3.47% of the shares are held by company insiders.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Lazard Asset Management LLC acquired a new position in Horizon Bancorp in the fourth quarter worth approximately $29,000. Marshall Wace LLP acquired a new position in Horizon Bancorp in the first quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Horizon Bancorp in the fourth quarter worth approximately $64,000. Reilly Financial Advisors LLC acquired a new position in Horizon Bancorp in the fourth quarter worth approximately $70,000. Finally, New York State Teachers Retirement System acquired a new position in Horizon Bancorp in the third quarter worth approximately $65,000. 53.67% of the shares are currently held by institutional investors.
Horizon Bancorp Company Profile (Get a rating)
Horizon Bancorp, Inc (Indiana) is a bank holding company that provides commercial and retail banking services. It offers personal banking services, corporate banking services, investment and trust services and mortgage services. The company was founded in 1873 and is based in Michigan City, IN.
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