Horizon Bancorp (HBNC) Projected to Post Earnings on Wednesday

Horizon Bancorp (NASDAQ:HBNC) is projected to post its quarterly earnings results after the market closes on Wednesday, January 22nd. Analysts expect Horizon Bancorp to post earnings of $0.39 per share and revenue of $62,807.25 billion for the quarter.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $102.40 million for the quarter, compared to analyst estimates of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same period last year, the company posted $0.37 EPS. 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 Price Performance

Shares of HBNC stock traded up $0.20 during trading hours on Wednesday, reaching $15.76. The company had a trading volume of 131,182 shares, compared to its average volume of 156,065. Horizon Bancorp has a 12-month low of $11.18 and a 12-month high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $688.95 million, a price-to-earnings ratio of 33.53 and a beta of 1.08. The stock has a fifty day moving average of $17.25 and a 200-day moving average of $15.82.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, January 3rd. Horizon Bancorp’s dividend payout ratio (DPR) is currently 136.17%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group began coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 price target for the company.

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.