Horizon Bancorp (HBNC) to Release Quarterly Earnings on Wednesday

Horizon Bancorp (NASDAQ:HBNC) will issue its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The company had revenue of $97.47 million for the quarter, compared to the consensus estimate of $55.03 million. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts expect Horizon Bancorp to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Horizon Bancorp Trading Down 4.6 %

Shares of HBNC stock opened at $14.96 on Tuesday. The stock has a market cap of $659.98 million, a P/E ratio of 27.70 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. Horizon Bancorp has a fifty-two week low of $9.22 and a fifty-two week high of $16.64. The business has a fifty day simple moving average of $15.37 and a 200-day simple moving average of $13.67.

Horizon Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, October 4th. This represents a $0.64 annualized dividend and a yield of 4.28%. Horizon Bancorp’s dividend payout ratio (DPR) is currently 118.52%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBNC. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Hovde Group began coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Piper Sandler boosted their price target on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.00.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.