$0.37 Earnings Per Share Expected for Horizon Bancorp Inc (HBNC) This Quarter

Wall Street analysts expect Horizon Bancorp Inc (NASDAQ:HBNC) to post $0.37 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Horizon Bancorp’s earnings. Horizon Bancorp reported earnings of $0.27 per share during the same quarter last year, which would suggest a positive year over year growth rate of 37%. The business is scheduled to issue its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Horizon Bancorp will report full year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.40 to $1.41. For the next financial year, analysts forecast that the firm will report earnings of $1.58 per share, with EPS estimates ranging from $1.55 to $1.61. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Monday, October 29th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.06). The firm had revenue of $42.46 million during the quarter, compared to analysts’ expectations of $43.43 million. Horizon Bancorp had a net margin of 24.49% and a return on equity of 10.28%.

HBNC has been the topic of several recent analyst reports. BidaskClub lowered shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, August 30th. ValuEngine lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Raymond James cut their price objective on shares of Horizon Bancorp from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Horizon Bancorp has an average rating of “Hold” and an average target price of $22.00.

Shares of HBNC stock opened at $16.41 on Wednesday. The stock has a market cap of $629.23 million, a PE ratio of 16.09 and a beta of 1.11. Horizon Bancorp has a 1-year low of $16.06 and a 1-year high of $22.13. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97.

In related news, President James D. Neff acquired 3,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were acquired at an average cost of $16.25 per share, for a total transaction of $48,750.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of HBNC. SG Americas Securities LLC acquired a new stake in Horizon Bancorp during the 2nd quarter worth approximately $187,000. Russell Investments Group Ltd. increased its position in Horizon Bancorp by 50.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,833 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 3,278 shares in the last quarter. AMI Investment Management Inc. acquired a new stake in Horizon Bancorp during the 2nd quarter worth approximately $223,000. Metropolitan Life Insurance Co. NY increased its position in Horizon Bancorp by 50.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,660 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 3,887 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in Horizon Bancorp by 50.0% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 11,895 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 3,965 shares in the last quarter. 53.17% of the stock is owned by hedge funds and other institutional investors.

About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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Earnings History and Estimates for Horizon Bancorp (NASDAQ:HBNC)

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