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

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) released its earnings results on Wednesday. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04, Yahoo Finance reports. The company had revenue of $102.40 million during the quarter, compared to the consensus estimate of $58.23 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 company posted $0.37 EPS.

Horizon Bancorp Trading Down 0.7 %

Shares of HBNC stock traded down $0.11 during trading hours 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 current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $701.89 million, a P/E ratio of 29.67 and a beta of 1.04. The firm's fifty day simple moving average is $15.41 and its 200 day simple moving average is $13.70. Horizon Bancorp has a one year low of $9.22 and a one year high of $16.64.

Horizon Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, October 4th. Horizon Bancorp's payout ratio is 118.52%.

Wall Street Analyst Weigh In

HBNC has been the subject of a number of research reports. 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 for the company. Piper Sandler lifted their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. StockNews.com cut Horizon Bancorp from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on Horizon Bancorp from $14.00 to $16.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.

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