$36.09 Million in Sales Expected for Horizon Bancorp (HBNC) This Quarter
Analysts forecast that Horizon Bancorp (NASDAQ:HBNC) will post sales of $36.09 million for the current quarter, Zacks reports. Two analysts have issued estimates for Horizon Bancorp’s earnings. The highest sales estimate is $36.4 million and the lowest is $35.78 million. Horizon Bancorp posted sales of $30.74 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.4%. The business is expected to report its next quarterly earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that Horizon Bancorp will report full-year sales of $36.09 million for the current financial year, with estimates ranging from $142.44 million to $145.2 million. For the next financial year, analysts anticipate that the business will post sales of $152.73 million per share, with estimates ranging from $151.25 million to $154.2 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $33.13 million for the quarter, compared to analysts’ expectations of $34.97 million. Horizon Bancorp had a net margin of 16.55% and a return on equity of 9.86%.
A number of analysts have weighed in on HBNC shares. Zacks Investment Research upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price target on shares of Horizon Bancorp in a research note on Wednesday, April 26th.
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Horizon Bancorp (NASDAQ:HBNC) traded up 0.099% during mid-day trading on Friday, reaching $25.305. The company’s stock had a trading volume of 9,169 shares. Horizon Bancorp has a one year low of $15.83 and a one year high of $28.63. The stock’s 50 day moving average is $26.15 and its 200 day moving average is $26.11. The firm has a market cap of $561.16 million, a PE ratio of 20.020 and a beta of 0.79.
Several institutional investors have recently modified their holdings of the company. Analytic Investors LLC purchased a new position in shares of Horizon Bancorp during the third quarter valued at about $465,000. The Manufacturers Life Insurance Company purchased a new position in shares of Horizon Bancorp during the third quarter valued at about $16,427,000. Banc Funds Co. LLC raised its position in shares of Horizon Bancorp by 2.2% in the third quarter. Banc Funds Co. LLC now owns 222,857 shares of the financial services provider’s stock valued at $6,548,000 after buying an additional 4,715 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at about $131,000. Finally, Siena Capital Management LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at about $4,904,000. 28.53% of the stock is currently owned by institutional investors.
About Horizon Bancorp
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.
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