Horizon Bancorp (NASDAQ:HBNC) Posts Earnings Results

Horizon Bancorp (NASDAQ:HBNC) announced its earnings results on Wednesday. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01, Zacks reports. The company had revenue of $97.47 million for the quarter, compared to analyst estimates of $55.03 million. Horizon Bancorp had a return on equity of 8.71% and a net margin of 7.02%. During the same period in the prior year, the company posted $0.41 EPS.

Horizon Bancorp Stock Performance

NASDAQ HBNC traded up $1.21 during trading on Thursday, hitting $16.30. The company’s stock had a trading volume of 508,206 shares, compared to its average volume of 164,170. The firm has a market cap of $719.16 million, a P/E ratio of 30.13 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.04. Horizon Bancorp has a 52 week low of $9.22 and a 52 week high of $16.46. The firm has a 50 day moving average price of $12.58 and a 200 day moving average price of $12.49.

Horizon Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.93%. The ex-dividend date was Friday, July 5th. Horizon Bancorp’s dividend payout ratio is currently 118.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HBNC shares. Piper Sandler decreased their price target on Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 31st.

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.