Q2 2018 Earnings Forecast for Horizon Bancorp (HBNC) Issued By Piper Jaffray

Horizon Bancorp (NASDAQ:HBNC) – Investment analysts at Piper Jaffray cut their Q2 2018 earnings per share (EPS) estimates for shares of Horizon Bancorp in a research note issued on Friday, April 6th. Piper Jaffray analyst N. Race now forecasts that the financial services provider will earn $0.51 per share for the quarter, down from their prior forecast of $0.52. Piper Jaffray has a “Buy” rating and a $35.00 price objective on the stock. Piper Jaffray also issued estimates for Horizon Bancorp’s Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.09 EPS, Q2 2019 earnings at $0.59 EPS and FY2019 earnings at $2.39 EPS.

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Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The firm had revenue of $40.80 million during the quarter, compared to analyst estimates of $40.73 million. Horizon Bancorp had a net margin of 20.49% and a return on equity of 9.28%.

HBNC has been the topic of several other reports. Zacks Investment Research lowered shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. ValuEngine raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Finally, BidaskClub raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $31.88.

Shares of HBNC opened at $29.35 on Monday. The stock has a market capitalization of $750.22, a PE ratio of 19.18 and a beta of 1.05. Horizon Bancorp has a fifty-two week low of $24.54 and a fifty-two week high of $31.14. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, April 6th will be given a $0.15 dividend. The ex-dividend date is Thursday, April 5th. This is a positive change from Horizon Bancorp’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.04%. Horizon Bancorp’s dividend payout ratio is presently 39.22%.

In other news, insider Dennis Kuhn sold 7,500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the transaction, the insider now directly owns 7,500 shares of the company’s stock, valued at $225,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of HBNC. Teacher Retirement System of Texas bought a new position in shares of Horizon Bancorp in the fourth quarter valued at about $221,000. Bedel Financial Consulting Inc. bought a new position in Horizon Bancorp during the fourth quarter worth about $240,000. MetLife Investment Advisors LLC bought a new position in Horizon Bancorp during the fourth quarter worth about $270,000. Virtu Financial LLC bought a new position in Horizon Bancorp during the fourth quarter worth about $282,000. Finally, Siena Capital Partners GP LLC bought a new position in Horizon Bancorp during the fourth quarter worth about $560,000. 48.73% of the stock is currently owned by institutional investors.

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Horizon Bancorp 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.

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

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