Brokerages expect Horizon Bancorp Inc (NASDAQ:HBNC) to post sales of $44.53 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Horizon Bancorp’s earnings. The highest sales estimate is $48.00 million and the lowest is $42.50 million. Horizon Bancorp posted sales of $41.73 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that Horizon Bancorp will report full-year sales of $208.57 million for the current financial year, with estimates ranging from $205.70 million to $213.20 million. For the next financial year, analysts expect that the company will report sales of $227.40 million, with estimates ranging from $226.50 million to $228.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Horizon Bancorp had a return on equity of 10.72% and a net margin of 26.48%. The business had revenue of $42.31 million for the quarter, compared to analyst estimates of $43.50 million.
Shares of Horizon Bancorp stock opened at $16.91 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.97. Horizon Bancorp has a 1-year low of $14.79 and a 1-year high of $22.13. The stock has a market cap of $632.30 million, a price-to-earnings ratio of 13.31 and a beta of 0.96.
The company also recently announced a quarterly dividend, which was paid on Friday, January 18th. Stockholders of record on Friday, January 4th were paid a $0.10 dividend. The ex-dividend date was Thursday, January 3rd. This represents a $0.40 annualized dividend and a dividend yield of 2.37%. Horizon Bancorp’s dividend payout ratio is presently 31.50%.
In other news, President James D. Neff bought 3,000 shares of Horizon Bancorp stock in a transaction dated Thursday, December 6th. The stock was bought at an average cost of $16.25 per share, for a total transaction of $48,750.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of HBNC. BlackRock Inc. grew its stake in shares of Horizon Bancorp by 66.7% in the 2nd quarter. BlackRock Inc. now owns 2,162,231 shares of the financial services provider’s stock valued at $44,735,000 after buying an additional 864,841 shares during the period. Voya Investment Management LLC grew its stake in shares of Horizon Bancorp by 40.0% in the 2nd quarter. Voya Investment Management LLC now owns 20,193 shares of the financial services provider’s stock valued at $418,000 after buying an additional 5,774 shares during the period. Bank of America Corp DE grew its stake in shares of Horizon Bancorp by 21.7% in the 2nd quarter. Bank of America Corp DE now owns 16,739 shares of the financial services provider’s stock valued at $347,000 after buying an additional 2,989 shares during the period. California Public Employees Retirement System grew its stake in shares of Horizon Bancorp by 58.3% in the 2nd quarter. California Public Employees Retirement System now owns 73,489 shares of the financial services provider’s stock valued at $1,520,000 after buying an additional 27,073 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Horizon Bancorp by 52.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 214,660 shares of the financial services provider’s stock valued at $4,442,000 after buying an additional 73,931 shares during the period. Institutional investors own 53.28% of the company’s stock.
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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