Analysts Expect Horizon Bancorp (IN) (HBNC) to Announce $0.42 Earnings Per Share

Equities research analysts predict that Horizon Bancorp (IN) (NASDAQ:HBNC) will post $0.42 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Horizon Bancorp (IN)’s earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.43. Horizon Bancorp (IN) reported earnings of $0.38 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.5%. The business is scheduled to announce its next quarterly earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Horizon Bancorp (IN) will report full-year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.77. For the next financial year, analysts anticipate that the business will post earnings of $1.94 per share, with EPS estimates ranging from $1.91 to $1.98. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Horizon Bancorp (IN).

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Tuesday, April 25th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.07. Horizon Bancorp (IN) had a return on equity of 9.51% and a net margin of 17.90%. The firm had revenue of $33.13 million for the quarter, compared to analysts’ expectations of $34.97 million.

A number of brokerages have recently weighed in on HBNC. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price target on shares of Horizon Bancorp (IN) in a report on Wednesday, April 26th. Zacks Investment Research upgraded Horizon Bancorp (IN) from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Finally, ValuEngine upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Horizon Bancorp (IN) currently has a consensus rating of “Buy” and a consensus price target of $26.83.

Shares of Horizon Bancorp (NASDAQ:HBNC) opened at 26.06 on Tuesday. The stock has a market capitalization of $577.91 million, a price-to-earnings ratio of 20.62 and a beta of 1.00. The company’s 50 day moving average is $26.10 and its 200-day moving average is $26.20. Horizon Bancorp has a 1-year low of $15.93 and a 1-year high of $28.63.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, July 5th. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. Horizon Bancorp (IN)’s payout ratio is currently 34.74%.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBNC. Russell Investments Group Ltd. bought a new position in Horizon Bancorp (IN) during the fourth quarter worth about $131,000. State Street Corp raised its position in Horizon Bancorp (IN) by 91.0% in the fourth quarter. State Street Corp now owns 313,500 shares of the financial services provider’s stock worth $8,780,000 after buying an additional 149,342 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Horizon Bancorp (IN) by 66.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,284 shares of the financial services provider’s stock worth $14,176,000 after buying an additional 202,919 shares in the last quarter. Federated Investors Inc. PA raised its position in Horizon Bancorp (IN) by 125.0% in the fourth quarter. Federated Investors Inc. PA now owns 17,911 shares of the financial services provider’s stock worth $502,000 after buying an additional 9,950 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Horizon Bancorp (IN) by 27.0% in the fourth quarter. Renaissance Technologies LLC now owns 240,170 shares of the financial services provider’s stock worth $6,725,000 after buying an additional 51,050 shares in the last quarter. Institutional investors and hedge funds own 44.26% of the company’s stock.

About Horizon Bancorp (IN)

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:HBNC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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