Brokerages forecast that Horizon Bancorp (NASDAQ:HBNC) will report earnings per share of $0.41 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Horizon Bancorp’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.43. Horizon Bancorp reported earnings of $0.38 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The business is scheduled to report its next earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Horizon Bancorp will report full year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.60 to $1.69. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.83 per share, with EPS estimates ranging from $1.73 to $1.88. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Tuesday, April 25th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.41 by $0.07. Horizon Bancorp had a net margin of 16.55% and a return on equity of 9.86%. The firm earned $33.13 million during the quarter, compared to the consensus estimate of $34.97 million.
A number of analysts recently commented on the company. Zacks Investment Research lowered Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $29.00 price objective on shares of Horizon Bancorp in a research report on Wednesday, April 26th.
A number of institutional investors have recently made changes to their positions in the stock. Analytic Investors LLC purchased a new position in shares of Horizon Bancorp during the third quarter valued at approximately $465,000. Metropolitan Life Insurance Co. NY raised its position in shares of Horizon Bancorp by 52.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,410 shares of the financial services provider’s stock valued at $375,000 after buying an additional 4,602 shares in the last quarter. Banc Funds Co. LLC raised its position in shares of Horizon Bancorp by 2.2% in the third quarter. Banc Funds Co. LLC now owns 222,857 shares of the financial services provider’s stock valued at $6,548,000 after buying an additional 4,715 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Horizon Bancorp by 13.3% in the third quarter. Prudential Financial Inc. now owns 77,646 shares of the financial services provider’s stock valued at $2,282,000 after buying an additional 9,110 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Horizon Bancorp during the third quarter valued at approximately $16,427,000. 28.53% of the stock is owned by institutional investors and hedge funds.
Horizon Bancorp (NASDAQ:HBNC) traded down 0.26% during trading on Monday, reaching $26.94. 49,968 shares of the company’s stock traded hands. The company’s 50 day moving average is $26.06 and its 200-day moving average is $26.44. The stock has a market cap of $597.42 million, a price-to-earnings ratio of 21.31 and a beta of 0.79. Horizon Bancorp has a 52-week low of $20.87 and a 52-week high of $32.45.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Friday, April 7th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, April 5th. Horizon Bancorp’s dividend payout ratio is currently 36.97%.
About Horizon Bancorp
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.
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