Horizon Bancorp (HBNC) Set to Announce Quarterly Earnings on Wednesday

Horizon Bancorp (NASDAQ:HBNC) will be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.30 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $21.81 million for the quarter, compared to the consensus estimate of $51.50 million. Horizon Bancorp had a return on equity of 9.42% and a net margin of 8.63%. On average, analysts expect Horizon Bancorp to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Horizon Bancorp Stock Down 0.1 %

Shares of NASDAQ:HBNC opened at $11.40 on Wednesday. Horizon Bancorp has a 52-week low of $7.69 and a 52-week high of $14.71. The stock has a market cap of $502.85 million, a P/E ratio of 17.81 and a beta of 1.02. The business has a fifty day moving average of $12.17 and a two-hundred day moving average of $12.04. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date is Thursday, April 4th. Horizon Bancorp’s dividend payout ratio is currently 100.00%.

Institutional Trading of Horizon Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of HBNC. Point72 Hong Kong Ltd acquired a new stake in shares of Horizon Bancorp during the first quarter valued at about $31,000. Royal Bank of Canada increased its holdings in Horizon Bancorp by 89.1% in the 2nd quarter. Royal Bank of Canada now owns 4,950 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 2,332 shares during the last quarter. Captrust Financial Advisors raised its position in Horizon Bancorp by 53.9% in the first quarter. Captrust Financial Advisors now owns 3,399 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,191 shares during the period. Tower Research Capital LLC TRC lifted its stake in Horizon Bancorp by 352.5% during the second quarter. Tower Research Capital LLC TRC now owns 6,838 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 5,327 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Horizon Bancorp by 31.5% during the first quarter. Great West Life Assurance Co. Can now owns 4,271 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 1,022 shares in the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.00.

About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.