Horizon Bancorp (NASDAQ:HBNC) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Horizon Bancorp (NASDAQ:HBNC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04, Yahoo Finance reports. The business had revenue of $102.40 million for the quarter, compared to analyst estimates of $58.23 million. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.17%. During the same quarter last year, the business earned $0.37 earnings per share.

Horizon Bancorp Stock Down 0.7 %

Shares of HBNC traded down $0.11 during mid-day trading on Friday, reaching $15.91. The company’s stock had a trading volume of 144,678 shares, compared to its average volume of 160,381. The company has a market cap of $701.89 million, a price-to-earnings ratio of 29.67 and a beta of 1.04. The business has a fifty day moving average of $15.41 and a 200 day moving average of $13.70. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. Horizon Bancorp has a 1 year low of $9.22 and a 1 year high of $16.64.

Horizon Bancorp Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.02%. The ex-dividend date was Friday, October 4th. Horizon Bancorp’s dividend payout ratio (DPR) is currently 118.52%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HBNC shares. Piper Sandler lifted their price target on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Hovde Group assumed coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 price objective on the stock. StockNews.com lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.00.

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.