Horizon Bancorp Inc (HBNC) Expected to Announce Quarterly Sales of $43.13 Million

Wall Street brokerages predict that Horizon Bancorp Inc (NASDAQ:HBNC) will post $43.13 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Horizon Bancorp’s earnings, with estimates ranging from $41.30 million to $45.00 million. Horizon Bancorp reported sales of $41.73 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The company is expected to report its next earnings report on Wednesday, April 24th.

On average, analysts expect that Horizon Bancorp will report full-year sales of $206.17 million for the current financial year, with estimates ranging from $202.60 million to $209.10 million. For the next financial year, analysts anticipate that the business will post sales of $226.37 million, with estimates ranging from $224.50 million to $227.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $42.31 million for the quarter, compared to analyst estimates of $43.50 million. Horizon Bancorp had a return on equity of 10.59% and a net margin of 26.48%.

HBNC has been the topic of a number of recent analyst reports. Stephens reissued a “buy” rating and issued a $20.00 price objective on shares of Horizon Bancorp in a research note on Wednesday, December 19th. BidaskClub raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. ValuEngine raised shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research cut shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Horizon Bancorp presently has a consensus rating of “Hold” and an average price target of $21.00.

Shares of NASDAQ:HBNC traded down $0.01 during mid-day trading on Monday, reaching $16.14. 1,696 shares of the stock were exchanged, compared to its average volume of 85,794. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $725.62 million, a PE ratio of 12.67 and a beta of 1.00. Horizon Bancorp has a one year low of $14.79 and a one year high of $22.13.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.48%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 31.50%.

Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its position in shares of Horizon Bancorp by 1,727.7% in the fourth quarter. Bank of Montreal Can now owns 4,679 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 4,423 shares during the last quarter. Legal & General Group Plc boosted its stake in Horizon Bancorp by 18.8% in the 4th quarter. Legal & General Group Plc now owns 6,955 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,100 shares during the period. Claybrook Capital LLC bought a new stake in Horizon Bancorp in the 4th quarter valued at $110,000. Metropolitan Life Insurance Co. NY raised its holdings in Horizon Bancorp by 328.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,659 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 8,935 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Horizon Bancorp by 18.3% in the 4th quarter. Citigroup Inc. now owns 11,782 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 1,821 shares in the last quarter. 53.34% 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 demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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

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