Analysts expect that Horizon Bancorp Inc (NASDAQ:HBNC) will announce $42.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Horizon Bancorp’s earnings. The highest sales estimate is $42.60 million and the lowest is $41.90 million. Horizon Bancorp reported sales of $35.41 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.5%. The company is expected to report its next earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Horizon Bancorp will report full-year sales of $172.00 million for the current fiscal year, with estimates ranging from $170.70 million to $172.70 million. For the next year, analysts anticipate that the company will post sales of $182.60 million per share, with estimates ranging from $180.80 million to $184.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Horizon Bancorp had a return on equity of 9.53% and a net margin of 21.79%. The firm had revenue of $41.73 million for the quarter, compared to the consensus estimate of $40.63 million.
HBNC has been the topic of several research analyst reports. BidaskClub upgraded Horizon Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, March 24th. ValuEngine upgraded Horizon Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Finally, Zacks Investment Research cut Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.89.
In other Horizon Bancorp news, CEO Craig M. Dwight sold 2,250 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $31.35, for a total value of $70,537.50. Following the sale, the chief executive officer now directly owns 148,996 shares of the company’s stock, valued at $4,671,024.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig M. Dwight sold 11,387 shares of the stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $29.85, for a total value of $339,901.95. Following the completion of the sale, the chief executive officer now directly owns 153,153 shares in the company, valued at $4,571,617.05. The disclosure for this sale can be found here. Insiders sold 17,373 shares of company stock worth $530,533 over the last ninety days. 4.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HBNC. Teacher Retirement System of Texas acquired a new stake in Horizon Bancorp in the fourth quarter worth $221,000. Barclays PLC increased its position in Horizon Bancorp by 115.6% in the first quarter. Barclays PLC now owns 7,859 shares of the financial services provider’s stock worth $236,000 after buying an additional 4,214 shares during the period. MetLife Investment Advisors LLC acquired a new stake in Horizon Bancorp in the fourth quarter worth $270,000. Virtu Financial LLC acquired a new stake in Horizon Bancorp in the fourth quarter worth $282,000. Finally, Mackay Shields LLC acquired a new stake in Horizon Bancorp in the first quarter worth $386,000. 51.40% of the stock is currently owned by hedge funds and other institutional investors.
Horizon Bancorp traded down $0.36, hitting $21.29, during trading hours on Thursday, according to Marketbeat.com. 608,717 shares of the stock were exchanged, compared to its average volume of 124,912. Horizon Bancorp has a 12 month low of $16.67 and a 12 month high of $22.13. The stock has a market capitalization of $829.91 million, a PE ratio of 19.45 and a beta of 1.09. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.99 and a quick ratio of 0.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Friday, July 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, July 5th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 39.22%.
Horizon Bancorp Company Profile
Horizon Bancorp operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.
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