Horizon Bancorp (NASDAQ:HBNC) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Horizon Bancorp (NASDAQ:HBNC) posted its earnings results on Wednesday. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03), Zacks reports. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%.

Horizon Bancorp Trading Down 1.6 %

NASDAQ:HBNC traded down $0.25 during mid-day trading on Wednesday, reaching $15.70. 170,429 shares of the company’s stock traded hands, compared to its average volume of 153,695. Horizon Bancorp has a 12-month low of $11.18 and a 12-month high of $19.18. The firm has a market capitalization of $686.40 million, a price-to-earnings ratio of 33.40 and a beta of 1.08. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50 day moving average price of $17.00 and a 200-day moving average price of $15.94.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.08%. Horizon Bancorp’s dividend payout ratio is presently 136.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lifted their price target on 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 assumed coverage on Horizon Bancorp in a research note on Monday, September 30th. They set an “outperform” rating and a $18.00 price target for the company.

Horizon Bancorp Company Profile

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.