Analysts expect Horizon Bancorp Inc (NASDAQ:HBNC) to report earnings per share of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Horizon Bancorp’s earnings, with estimates ranging from $0.32 to $0.38. Horizon Bancorp reported earnings per share of $0.37 during the same quarter last year, which would suggest a negative year over year growth rate of 2.7%. The company is expected to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that Horizon Bancorp will report full-year earnings of $1.52 per share for the current financial year, with EPS estimates ranging from $1.46 to $1.57. For the next year, analysts expect that the company will post earnings of $1.70 per share, with EPS estimates ranging from $1.68 to $1.75. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $42.99 million during the quarter, compared to analysts’ expectations of $41.93 million. Horizon Bancorp had a return on equity of 10.18% and a net margin of 24.71%.
Several equities analysts recently issued reports on HBNC shares. Zacks Investment Research cut Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine cut Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, March 15th. Finally, BidaskClub cut Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.00.
In related news, President James D. Neff purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $15.77 per share, with a total value of $55,195.00. Following the completion of the acquisition, the president now directly owns 253,154 shares in the company, valued at approximately $3,992,238.58. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Horizon Bancorp by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 220,190 shares of the financial services provider’s stock worth $4,349,000 after buying an additional 5,530 shares during the period. Vanguard Group Inc. boosted its position in shares of Horizon Bancorp by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,649,159 shares of the financial services provider’s stock worth $32,571,000 after buying an additional 20,129 shares during the period. Bank of Montreal Can boosted its position in shares of Horizon Bancorp by 1,727.7% in the fourth quarter. Bank of Montreal Can now owns 4,679 shares of the financial services provider’s stock worth $74,000 after buying an additional 4,423 shares during the period. Rhumbline Advisers boosted its position in shares of Horizon Bancorp by 46.9% in the fourth quarter. Rhumbline Advisers now owns 53,679 shares of the financial services provider’s stock worth $847,000 after buying an additional 17,148 shares during the period. Finally, Tradition Capital Management LLC lifted its stake in shares of Horizon Bancorp by 13.2% in the fourth quarter. Tradition Capital Management LLC now owns 99,836 shares of the financial services provider’s stock worth $1,575,000 after acquiring an additional 11,654 shares in the last quarter. 46.10% of the stock is owned by institutional investors and hedge funds.
HBNC stock traded up $0.11 during midday trading on Thursday, hitting $15.92. 65,300 shares of the stock were exchanged, compared to its average volume of 85,846. The stock has a market cap of $715.44 million, a PE ratio of 12.54 and a beta of 0.97. Horizon Bancorp has a fifty-two week low of $14.79 and a fifty-two week high of $22.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96.
Horizon Bancorp Company Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
Featured Article: What is the return on assets formula?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Horizon Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.