Zacks: Brokerages Anticipate Horizon Bancorp (HBNC) to Announce $0.39 EPS

Equities analysts expect that Horizon Bancorp (NASDAQ:HBNC) will post earnings of $0.39 per share for the current quarter, Zacks reports. Two analysts have made estimates for Horizon Bancorp’s earnings, with estimates ranging from $0.37 to $0.42. Horizon Bancorp posted earnings per share of $0.30 in the same quarter last year, which indicates a positive year-over-year growth rate of 30%. The firm is expected to announce its next earnings report on Monday, April 24th.

According to Zacks, analysts expect that Horizon Bancorp will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.66 to $1.80. For the next fiscal year, analysts forecast that the firm will post earnings of $1.89 per share, with EPS estimates ranging from $1.80 to $1.96. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. Horizon Bancorp had a net margin of 16.55% and a return on equity of 9.86%.

Separately, Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Monday, April 3rd.

Horizon Bancorp (NASDAQ:HBNC) traded down 2.94% during trading on Monday, reaching $24.73. 46,011 shares of the company traded hands. Horizon Bancorp has a 52 week low of $20.87 and a 52 week high of $32.45. The company’s 50-day moving average price is $25.89 and its 200 day moving average price is $26.78. The firm has a market capitalization of $548.29 million, a price-to-earnings ratio of 20.78 and a beta of 0.79.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, April 7th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, April 5th. Horizon Bancorp’s dividend payout ratio is presently 36.97%.

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In other Horizon Bancorp news, Director Maurice F. Winkler III acquired 8,000 shares of Horizon Bancorp stock in a transaction that occurred on Tuesday, January 31st. The stock was bought at an average cost of $25.55 per share, for a total transaction of $204,400.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 7.70% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Sabal Trust CO increased its stake in Horizon Bancorp by 0.6% in the third quarter. Sabal Trust CO now owns 10,883 shares of the financial services provider’s stock valued at $320,000 after buying an additional 61 shares during the last quarter. Wells Fargo & Company MN increased its stake in Horizon Bancorp by 4.6% in the third quarter. Wells Fargo & Company MN now owns 28,897 shares of the financial services provider’s stock valued at $849,000 after buying an additional 1,261 shares during the last quarter. California Public Employees Retirement System increased its stake in Horizon Bancorp by 11.3% in the third quarter. California Public Employees Retirement System now owns 30,712 shares of the financial services provider’s stock valued at $902,000 after buying an additional 3,112 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Horizon Bancorp by 52.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,410 shares of the financial services provider’s stock valued at $375,000 after buying an additional 4,602 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Horizon Bancorp by 28.7% in the third quarter. First Trust Advisors LP now owns 21,044 shares of the financial services provider’s stock valued at $618,000 after buying an additional 4,695 shares during the last quarter. Institutional investors own 28.53% of the company’s stock.

Horizon Bancorp Company Profile

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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