Equities research analysts expect Horizon Bancorp Inc (NASDAQ:HBNC) to post sales of $52.50 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Horizon Bancorp’s earnings, with the highest sales estimate coming in at $53.00 million and the lowest estimate coming in at $52.10 million. Horizon Bancorp posted sales of $52.43 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.1%. The company is scheduled to announce its next earnings results on Wednesday, July 22nd.
On average, analysts expect that Horizon Bancorp will report full-year sales of $214.85 million for the current year, with estimates ranging from $208.30 million to $221.00 million. For the next financial year, analysts expect that the firm will report sales of $206.28 million, with estimates ranging from $202.80 million to $212.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Horizon Bancorp had a net margin of 25.81% and a return on equity of 10.68%. The company had revenue of $52.99 million for the quarter, compared to analysts’ expectations of $52.18 million.
Several analysts have commented on HBNC shares. Piper Sandler raised their price objective on shares of Horizon Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a report on Monday, May 4th. TheStreet cut Horizon Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, March 10th. Zacks Investment Research cut Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. ValuEngine downgraded Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 3rd. Finally, BidaskClub upgraded shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 10th. Three analysts have rated the stock with a sell rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.50.
A number of institutional investors have recently added to or reduced their stakes in the business. FDx Advisors Inc. bought a new position in shares of Horizon Bancorp during the first quarter valued at $729,000. Advisor Group Holdings Inc. purchased a new stake in Horizon Bancorp during the 1st quarter valued at about $319,000. Engineers Gate Manager LP bought a new stake in Horizon Bancorp during the 1st quarter valued at about $261,000. Two Sigma Investments LP increased its stake in Horizon Bancorp by 37.4% during the 1st quarter. Two Sigma Investments LP now owns 65,625 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 17,873 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Horizon Bancorp by 60.3% in the first quarter. Two Sigma Advisers LP now owns 69,087 shares of the financial services provider’s stock worth $681,000 after buying an additional 26,000 shares during the last quarter. 49.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of HBNC opened at $10.35 on Tuesday. Horizon Bancorp has a 1-year low of $7.42 and a 1-year high of $19.48. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.21. The firm’s 50-day moving average price is $10.19 and its 200-day moving average price is $13.58. The firm has a market capitalization of $425.47 million, a price-to-earnings ratio of 6.90 and a beta of 1.30.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be given a $0.12 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.64%. Horizon Bancorp’s dividend payout ratio is currently 29.27%.
About Horizon Bancorp
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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