Horizon Bancorp Inc (HBNC) Expected to Post Earnings of $0.36 Per Share

Analysts predict that Horizon Bancorp Inc (NASDAQ:HBNC) will announce earnings per share (EPS) of $0.36 for the current quarter, according to Zacks. Three analysts have made estimates for Horizon Bancorp’s earnings. The lowest EPS estimate is $0.32 and the highest is $0.38. Horizon Bancorp posted earnings per share of $0.37 during the same quarter last year, which indicates a negative year-over-year growth rate of 2.7%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Horizon Bancorp will report full-year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.58. For the next fiscal year, analysts expect that the company will report earnings of $1.70 per share, with EPS estimates ranging from $1.68 to $1.75. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $42.99 million for the quarter, compared to analyst estimates of $41.93 million. Horizon Bancorp had a net margin of 24.71% and a return on equity of 10.18%.

Several research analysts recently issued reports on HBNC shares. BidaskClub raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, ValuEngine raised shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Horizon Bancorp currently has an average rating of “Hold” and a consensus price target of $21.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in Horizon Bancorp by 1.3% during the first quarter. Rhumbline Advisers now owns 54,380 shares of the financial services provider’s stock worth $875,000 after buying an additional 701 shares during the last quarter. Prudential Financial Inc. raised its holdings in Horizon Bancorp by 3.3% during the fourth quarter. Prudential Financial Inc. now owns 30,226 shares of the financial services provider’s stock worth $477,000 after buying an additional 956 shares during the last quarter. Legal & General Group Plc raised its holdings in Horizon Bancorp by 18.8% during the fourth quarter. Legal & General Group Plc now owns 6,955 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,100 shares during the last quarter. Northern Trust Corp raised its holdings in Horizon Bancorp by 0.3% during the fourth quarter. Northern Trust Corp now owns 452,456 shares of the financial services provider’s stock worth $7,141,000 after buying an additional 1,272 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Horizon Bancorp during the first quarter worth $26,000. Hedge funds and other institutional investors own 45.69% of the company’s stock.

Shares of NASDAQ HBNC opened at $16.46 on Tuesday. The firm has a market cap of $737.06 million, a P/E ratio of 12.03 and a beta of 0.99. Horizon Bancorp has a 12-month low of $14.79 and a 12-month high of $22.13. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96.

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.43%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio is presently 31.50%.

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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