Zacks: Analysts Expect Horizon Bancorp Inc (HBNC) Will Post Quarterly Sales of $52.60 Million
Brokerages expect Horizon Bancorp Inc (NASDAQ:HBNC) to announce $52.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Horizon Bancorp’s earnings, with estimates ranging from $52.40 million to $52.90 million. Horizon Bancorp reported sales of $42.48 million in the same quarter last year, which indicates a positive year over year growth rate of 23.8%. The company is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that Horizon Bancorp will report full-year sales of $203.67 million for the current fiscal year, with estimates ranging from $202.90 million to $204.30 million. For the next financial year, analysts anticipate that the firm will post sales of $222.83 million, with estimates ranging from $222.10 million to $223.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Horizon Bancorp had a net margin of 24.71% and a return on equity of 10.18%. The company had revenue of $42.99 million during the quarter, compared to analysts’ expectations of $41.93 million.
HBNC traded down $0.06 on Thursday, reaching $16.40. The stock had a trading volume of 44,750 shares, compared to its average volume of 82,108. Horizon Bancorp has a 12-month low of $14.79 and a 12-month high of $22.13. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $738.87 million, a price-to-earnings ratio of 12.91 and a beta of 0.99.
The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.44%. Horizon Bancorp’s dividend payout ratio is currently 31.50%.
Several hedge funds have recently added to or reduced their stakes in HBNC. Marshall Wace LLP purchased a new stake in shares of Horizon Bancorp during the first quarter worth about $26,000. Bank of Montreal Can increased its stake in shares of Horizon Bancorp by 1,727.7% during the fourth quarter. Bank of Montreal Can now owns 4,679 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 4,423 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Horizon Bancorp by 123.1% during the first quarter. Great West Life Assurance Co. Can now owns 5,794 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 3,197 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Horizon Bancorp by 18.8% during the fourth quarter. Legal & General Group Plc now owns 6,955 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Claybrook Capital LLC acquired a new position in Horizon Bancorp during the fourth quarter worth about $110,000. 45.69% of the stock is owned by institutional investors and hedge funds.
About Horizon Bancorp
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.
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