Horizon Bancorp (HBNC) Scheduled to Post Quarterly Earnings on Thursday
Horizon Bancorp (NASDAQ:HBNC) will be announcing its earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.58 per share for the quarter.
Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, July 27th. The financial services provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Horizon Bancorp had a return on equity of 9.48% and a net margin of 17.13%. On average, analysts expect Horizon Bancorp to post $2.24 EPS for the current fiscal year and $2.46 EPS for the next fiscal year.
Shares of Horizon Bancorp (NASDAQ:HBNC) opened at 29.40 on Wednesday. The firm has a 50 day moving average price of $28.92 and a 200-day moving average price of $26.32. Horizon Bancorp has a 12-month low of $21.92 and a 12-month high of $30.40. The company has a market cap of $434.41 million, a price-to-earnings ratio of 16.07 and a beta of 0.49.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. Horizon Bancorp’s dividend payout ratio is 32.79%.
Several brokerages recently issued reports on HBNC. Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, September 20th. Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Piper Jaffray Cos. began coverage on Horizon Bancorp in a research note on Thursday, October 6th. They issued an “overweight” rating and a $33.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Horizon Bancorp presently has an average rating of “Buy” and a consensus target price of $31.13.
In other Horizon Bancorp news, insider Thomas H. Edwards sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $27.65, for a total transaction of $276,500.00. Following the completion of the sale, the insider now owns 10,097 shares in the company, valued at $279,182.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 7.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in Horizon Bancorp by 8.1% in the second quarter. Parametric Portfolio Associates LLC now owns 12,924 shares of the financial services provider’s stock worth $325,000 after buying an additional 973 shares in the last quarter. State Street Corp raised its stake in Horizon Bancorp by 1.4% in the second quarter. State Street Corp now owns 145,460 shares of the financial services provider’s stock worth $3,659,000 after buying an additional 2,077 shares in the last quarter. Keeley Asset Management Corp raised its stake in Horizon Bancorp by 0.6% in the second quarter. Keeley Asset Management Corp now owns 11,067 shares of the financial services provider’s stock worth $278,000 after buying an additional 67 shares in the last quarter. Teachers Advisors Inc. raised its stake in Horizon Bancorp by 11.8% in the second quarter. Teachers Advisors Inc. now owns 17,319 shares of the financial services provider’s stock worth $435,000 after buying an additional 1,824 shares in the last quarter. Finally, American International Group Inc. raised its stake in Horizon Bancorp by 19.6% in the second quarter. American International Group Inc. now owns 6,463 shares of the financial services provider’s stock worth $162,000 after buying an additional 1,057 shares in the last quarter. Institutional investors own 36.10% of the company’s stock.
Horizon Bancorp Company Profile
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking.
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