Equities research analysts expect Horizon Bancorp (IN) (NASDAQ:HBNC) to report sales of $42.33 million for the current quarter, according to Zacks. Three analysts have issued estimates for Horizon Bancorp (IN)’s earnings, with estimates ranging from $41.90 million to $42.60 million. Horizon Bancorp (IN) reported sales of $35.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The company is expected to report its next quarterly earnings report on Thursday, July 26th.
On average, analysts expect that Horizon Bancorp (IN) will report full year sales of $172.00 million for the current fiscal year, with estimates ranging from $170.70 million to $172.70 million. For the next year, analysts expect that the firm will report sales of $182.60 million per share, with estimates ranging from $180.80 million to $184.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Horizon Bancorp (IN).
Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, April 25th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The firm had revenue of $41.73 million during the quarter, compared to analyst estimates of $40.63 million. Horizon Bancorp (IN) had a return on equity of 9.87% and a net margin of 21.79%.
In related news, insider Dennis Kuhn sold 7,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 7,500 shares in the company, valued at $225,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.60% of the company’s stock.
Several large investors have recently modified their holdings of HBNC. Advisory Research Inc. raised its holdings in shares of Horizon Bancorp (IN) by 30.5% during the fourth quarter. Advisory Research Inc. now owns 767,690 shares of the financial services provider’s stock worth $21,342,000 after acquiring an additional 179,235 shares during the period. BlackRock Inc. raised its holdings in shares of Horizon Bancorp (IN) by 14.3% during the fourth quarter. BlackRock Inc. now owns 1,286,963 shares of the financial services provider’s stock worth $35,778,000 after acquiring an additional 160,644 shares during the period. Comerica Bank raised its holdings in shares of Horizon Bancorp (IN) by 38.1% during the first quarter. Comerica Bank now owns 271,034 shares of the financial services provider’s stock worth $8,085,000 after acquiring an additional 74,743 shares during the period. SWS Partners acquired a new stake in shares of Horizon Bancorp (IN) during the fourth quarter worth $1,895,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Horizon Bancorp (IN) by 10.7% during the third quarter. Dimensional Fund Advisors LP now owns 678,718 shares of the financial services provider’s stock worth $19,798,000 after acquiring an additional 65,429 shares during the period. Institutional investors and hedge funds own 48.66% of the company’s stock.
HBNC traded down $0.13 during mid-day trading on Monday, hitting $29.23. The stock had a trading volume of 23,498 shares, compared to its average volume of 75,125. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $744.33, a PE ratio of 19.19 and a beta of 1.07. Horizon Bancorp has a 1-year low of $24.54 and a 1-year high of $31.14.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 20th. Investors of record on Friday, April 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Horizon Bancorp (IN)’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, April 5th. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently 39.22%.
Horizon Bancorp (IN) Company Profile
Horizon Bancorp 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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