Wall Street analysts expect that Horizon Bancorp (IN) (NASDAQ:HBNC) will post $37.57 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Horizon Bancorp (IN)’s earnings, with estimates ranging from $37.40 million to $37.74 million. Horizon Bancorp (IN) reported sales of $34.47 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is scheduled to issue its next earnings results on Wednesday, October 25th.

On average, analysts expect that Horizon Bancorp (IN) will report full-year sales of $37.57 million for the current year, with estimates ranging from $147.96 million to $148.10 million. For the next financial year, analysts expect that the business will post sales of $175.25 million per share, with estimates ranging from $174.59 million to $175.90 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Horizon Bancorp (IN).

Several research firms have weighed in on HBNC. Keefe, Bruyette & Woods restated a “buy” rating and set a $29.00 price target on shares of Horizon Bancorp (IN) in a report on Wednesday, April 26th. Zacks Investment Research cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Piper Jaffray Companies set a $32.00 target price on Horizon Bancorp (IN) and gave the stock a “buy” rating in a report on Saturday, July 29th. Finally, ValuEngine upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Horizon Bancorp (IN) has an average rating of “Buy” and a consensus price target of $29.50.

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Horizon Bancorp (NASDAQ HBNC) opened at 26.10 on Monday. The stock has a market cap of $578.79 million, a price-to-earnings ratio of 19.64 and a beta of 0.98. The stock’s 50 day moving average price is $26.37 and its 200 day moving average price is $26.09. Horizon Bancorp has a one year low of $17.70 and a one year high of $28.63.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.99%. This is an increase from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, July 5th. Horizon Bancorp (IN)’s payout ratio is 39.10%.

A number of hedge funds have recently bought and sold shares of the stock. Federated Investors Inc. PA increased its stake in Horizon Bancorp (IN) by 7.7% in the second quarter. Federated Investors Inc. PA now owns 33,494 shares of the financial services provider’s stock valued at $883,000 after buying an additional 2,407 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Horizon Bancorp (IN) during the second quarter valued at about $711,000. Comerica Bank bought a new position in shares of Horizon Bancorp (IN) during the second quarter valued at about $611,000. Legal & General Group Plc boosted its position in Horizon Bancorp (IN) by 14.2% in the second quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock worth $140,000 after buying an additional 662 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Horizon Bancorp (IN) by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 135,963 shares of the financial services provider’s stock worth $3,583,000 after buying an additional 5,294 shares during the last quarter. Institutional investors and hedge funds own 44.09% of the company’s stock.

Horizon Bancorp (IN) Company Profile

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

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