Horizon Bancorp (HBNC) Scheduled to Post Earnings on Wednesday

Horizon Bancorp (NASDAQ:HBNC) will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Horizon Bancorp to post earnings of $0.30 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Horizon Bancorp had a net margin of 8.63% and a return on equity of 9.42%. The firm had revenue of $21.81 million during the quarter, compared to analyst estimates of $51.50 million. 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 Performance

Shares of HBNC opened at $11.84 on Monday. Horizon Bancorp has a 52 week low of $7.69 and a 52 week high of $14.71. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16. The stock has a market cap of $522.26 million, a P/E ratio of 18.50 and a beta of 1.02. The business’s 50 day moving average price is $12.12 and its 200-day moving average price is $12.06.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.00.

Hedge Funds Weigh In On Horizon Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Horizon Bancorp by 24.5% in the 2nd quarter. BlackRock Inc. now owns 5,983,404 shares of the financial services provider’s stock worth $62,287,000 after purchasing an additional 1,177,772 shares in the last quarter. Vanguard Group Inc. increased its holdings in Horizon Bancorp by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,239,674 shares of the financial services provider’s stock worth $32,050,000 after buying an additional 55,681 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Horizon Bancorp by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,014,424 shares of the financial services provider’s stock worth $37,611,000 after buying an additional 23,227 shares during the last quarter. State Street Corp lifted its stake in Horizon Bancorp by 20.4% during the 2nd quarter. State Street Corp now owns 1,374,002 shares of the financial services provider’s stock valued at $14,303,000 after acquiring an additional 232,659 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Horizon Bancorp by 0.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,345,839 shares of the financial services provider’s stock valued at $25,127,000 after acquiring an additional 5,142 shares during the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

About Horizon Bancorp

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.