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).
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.
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%.
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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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