Zacks: Brokerages Anticipate Horizon Bancorp (IN) (HBNC) to Announce $0.47 Earnings Per Share
Equities analysts expect Horizon Bancorp (IN) (NASDAQ:HBNC) to post earnings per share of $0.47 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Horizon Bancorp (IN)’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.46. Horizon Bancorp (IN) reported earnings per share of $0.34 in the same quarter last year, which would suggest a positive year-over-year growth rate of 38.2%. The company is expected to announce its next earnings results on Tuesday, April 24th.
On average, analysts expect that Horizon Bancorp (IN) will report full-year earnings of $2.14 per share for the current year, with EPS estimates ranging from $2.09 to $2.18. For the next year, analysts forecast that the company will report earnings of $2.33 per share, with EPS estimates ranging from $2.25 to $2.39. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Horizon Bancorp (IN).
Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Horizon Bancorp (IN) had a return on equity of 9.28% and a net margin of 20.49%. The firm had revenue of $40.80 million during the quarter, compared to analyst estimates of $40.73 million.
In other Horizon Bancorp (IN) news, insider Dennis Kuhn sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 7,500 shares of the company’s stock, valued at approximately $225,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.60% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. SWS Partners acquired a new stake in Horizon Bancorp (IN) during the 4th quarter valued at $1,895,000. MetLife Investment Advisors LLC acquired a new stake in Horizon Bancorp (IN) during the 4th quarter valued at $270,000. Millennium Management LLC raised its stake in Horizon Bancorp (IN) by 216.8% during the 4th quarter. Millennium Management LLC now owns 25,632 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 17,541 shares during the period. TIAA CREF Investment Management LLC raised its stake in Horizon Bancorp (IN) by 12.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 88,740 shares of the financial services provider’s stock valued at $2,467,000 after purchasing an additional 10,101 shares during the period. Finally, California State Teachers Retirement System raised its stake in Horizon Bancorp (IN) by 7.0% during the 4th quarter. California State Teachers Retirement System now owns 36,464 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 2,400 shares during the period. 48.72% of the stock is currently owned by institutional investors.
Shares of NASDAQ:HBNC opened at $29.43 on Wednesday. Horizon Bancorp has a one year low of $24.54 and a one year high of $31.14. The firm has a market cap of $755.83, a PE ratio of 18.83 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.01 and a quick ratio of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, April 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, April 5th. This is an increase from Horizon Bancorp (IN)’s previous quarterly dividend of $0.13. Horizon Bancorp (IN)’s dividend payout ratio is 39.22%.
TRADEMARK VIOLATION NOTICE: This story was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.watchlistnews.com/zacks-brokerages-anticipate-horizon-bancorp-in-hbnc-to-announce-0-47-earnings-per-share/2030190.html.
Horizon Bancorp (IN) Company Profile
Horizon Bancorp operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Horizon Bancorp (IN) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp (IN) and related companies with MarketBeat.com's FREE daily email newsletter.