$40.63 Million in Sales Expected for Horizon Bancorp (IN) (HBNC) This Quarter

Equities research analysts expect that Horizon Bancorp (IN) (NASDAQ:HBNC) will announce $40.63 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Horizon Bancorp (IN)’s earnings, with the lowest sales estimate coming in at $39.70 million and the highest estimate coming in at $41.89 million. Horizon Bancorp (IN) reported sales of $33.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 22.6%. The firm is expected to announce its next earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Horizon Bancorp (IN) will report full-year sales of $170.78 million for the current financial year, with estimates ranging from $169.20 million to $173.83 million. For the next fiscal year, analysts anticipate that the firm will report sales of $182.13 million per share, with estimates ranging from $180.10 million to $183.90 million. Zacks’ sales averages are an average based on a survey of research firms that cover Horizon Bancorp (IN).

How to Become a New Pot Stock Millionaire

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). Horizon Bancorp (IN) had a return on equity of 9.28% and a net margin of 20.49%. The firm had revenue of $40.80 million during the quarter, compared to analysts’ expectations of $40.73 million.

Several research analysts recently commented on the stock. Sandler O’Neill reaffirmed a “hold” rating and issued a $29.50 target price on shares of Horizon Bancorp (IN) in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Horizon Bancorp (IN) from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Piper Jaffray reiterated a “buy” rating and issued a $35.00 price target on shares of Horizon Bancorp (IN) in a report on Monday, January 29th. Zacks Investment Research upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Thursday, March 29th. Finally, ValuEngine cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.88.

In related news, insider Dennis Kuhn sold 7,500 shares of Horizon Bancorp (IN) stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the sale, the insider now owns 7,500 shares in the company, valued at $225,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in HBNC. Teacher Retirement System of Texas bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at $221,000. Bedel Financial Consulting Inc. bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at $240,000. MetLife Investment Advisors LLC bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at $270,000. Virtu Financial LLC bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at $282,000. Finally, Siena Capital Partners GP LLC bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at $560,000. Hedge funds and other institutional investors own 48.72% of the company’s stock.

Shares of NASDAQ HBNC opened at $29.43 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. Horizon Bancorp has a 52 week low of $24.54 and a 52 week high of $31.14. The firm has a market capitalization of $755.83, a P/E ratio of 18.83 and a beta of 1.05.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Friday, April 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.60 annualized dividend and a yield of 2.04%. This is a boost from Horizon Bancorp (IN)’s previous quarterly dividend of $0.13. Horizon Bancorp (IN)’s payout ratio is 39.22%.

ILLEGAL ACTIVITY WARNING: “$40.63 Million in Sales Expected for Horizon Bancorp (IN) (HBNC) This Quarter” was originally reported by WKRB News and is the property of of WKRB News. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.wkrb13.com/2018/04/16/40-63-million-in-sales-expected-for-horizon-bancorp-in-hbnc-this-quarter.html.

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.

Get a free copy of the Zacks research report on Horizon Bancorp (IN) (HBNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Horizon Bancorp (IN) (NASDAQ:HBNC)

Receive News & Ratings for Horizon Bancorp (IN) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp (IN) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply