Horizon Bancorp (HBNC) to Release Quarterly Earnings on Wednesday

Horizon Bancorp (NASDAQ:HBNC) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $97.47 million during the quarter, compared to analysts’ expectations of $55.03 million. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, analysts expect Horizon Bancorp to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Horizon Bancorp Stock Down 1.2 %

Shares of NASDAQ:HBNC opened at $15.68 on Monday. The stock has a fifty day simple moving average of $15.36 and a two-hundred day simple moving average of $13.65. The stock has a market capitalization of $691.74 million, a price-to-earnings ratio of 29.04 and a beta of 1.04. Horizon Bancorp has a 12-month low of $9.22 and a 12-month high of $16.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02.

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Friday, October 4th. Horizon Bancorp’s payout ratio is 118.52%.

Analyst Ratings Changes

A number of brokerages have issued reports on HBNC. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Piper Sandler boosted their price target on Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Hovde Group began coverage on Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 price target for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Horizon Bancorp presently has an average rating of “Hold” and a consensus price target of $16.00.

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.