Horizon Bancorp (HBNC) Scheduled to Post Quarterly Earnings on Thursday
Horizon Bancorp (NASDAQ:HBNC) is scheduled to be posting its quarterly earnings results on Thursday, October 20th. Analysts expect Horizon Bancorp to post earnings of $0.58 per share for the quarter.
Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. Horizon Bancorp had a return on equity of 9.48% and a net margin of 17.13%. On average, analysts expect Horizon Bancorp to post $2.24 EPS for the current fiscal year and $2.46 EPS for the next fiscal year.
Shares of Horizon Bancorp (NASDAQ:HBNC) opened at 29.40 on Wednesday. The stock’s 50 day moving average price is $28.92 and its 200 day moving average price is $26.32. Horizon Bancorp has a one year low of $21.92 and a one year high of $30.40. The stock has a market cap of $434.41 million, a price-to-earnings ratio of 16.07 and a beta of 0.49.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.60 annualized dividend and a yield of 2.04%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 32.79%.
Several research firms recently weighed in on HBNC. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Zacks Investment Research upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Piper Jaffray Cos. assumed coverage on shares of Horizon Bancorp in a research note on Thursday, October 6th. They issued an “overweight” rating and a $33.50 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.13.
In related news, insider Thomas H. Edwards sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $27.65, for a total transaction of $276,500.00. Following the completion of the transaction, the insider now owns 10,097 shares in the company, valued at $279,182.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Horizon Bancorp by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 301,627 shares of the financial services provider’s stock worth $7,583,000 after buying an additional 28,008 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Horizon Bancorp by 3.1% in the second quarter. Vanguard Group Inc. now owns 277,801 shares of the financial services provider’s stock worth $6,984,000 after buying an additional 8,293 shares during the last quarter. State Street Corp increased its position in shares of Horizon Bancorp by 1.4% in the second quarter. State Street Corp now owns 145,460 shares of the financial services provider’s stock worth $3,659,000 after buying an additional 2,077 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Horizon Bancorp by 4.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 113,849 shares of the financial services provider’s stock worth $2,862,000 after buying an additional 4,587 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its position in shares of Horizon Bancorp by 12.6% in the second quarter. BlackRock Investment Management LLC now owns 49,706 shares of the financial services provider’s stock worth $1,250,000 after buying an additional 5,569 shares during the last quarter. Hedge funds and other institutional investors own 36.10% of the company’s stock.
About Horizon Bancorp
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking.
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