$0.37 Earnings Per Share Expected for Horizon Bancorp Inc (HBNC) This Quarter

Brokerages predict that Horizon Bancorp Inc (NASDAQ:HBNC) will announce earnings per share (EPS) of $0.37 for the current quarter, Zacks reports. Three analysts have made estimates for Horizon Bancorp’s earnings. Horizon Bancorp reported earnings per share of $0.27 in the same quarter last year, which suggests a positive year-over-year growth rate of 37%. The firm is expected to announce its next earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Horizon Bancorp will report full year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.41. For the next year, analysts anticipate that the business will post earnings of $1.58 per share, with EPS estimates ranging from $1.55 to $1.61. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). The firm had revenue of $42.46 million for the quarter, compared to analysts’ expectations of $43.43 million. Horizon Bancorp had a net margin of 24.49% and a return on equity of 10.28%.

HBNC has been the subject of a number of analyst reports. BidaskClub cut Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. Raymond James reduced their price target on Horizon Bancorp from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Zacks Investment Research cut Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. Finally, ValuEngine cut Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank boosted its holdings in Horizon Bancorp by 54.8% in the 2nd quarter. Comerica Bank now owns 419,435 shares of the financial services provider’s stock valued at $8,632,000 after purchasing an additional 148,401 shares during the period. First Trust Advisors LP boosted its holdings in Horizon Bancorp by 79.4% in the 2nd quarter. First Trust Advisors LP now owns 95,385 shares of the financial services provider’s stock valued at $1,974,000 after purchasing an additional 42,211 shares during the period. Chevy Chase Trust Holdings Inc. boosted its holdings in Horizon Bancorp by 50.0% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 11,895 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 3,965 shares during the period. Sei Investments Co. boosted its holdings in Horizon Bancorp by 50.0% in the 2nd quarter. Sei Investments Co. now owns 20,520 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 6,840 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Horizon Bancorp by 65.9% in the 2nd quarter. Rhumbline Advisers now owns 36,084 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 14,338 shares during the period. Institutional investors and hedge funds own 53.17% of the company’s stock.

Shares of HBNC opened at $16.28 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $667.60 million, a price-to-earnings ratio of 15.96 and a beta of 1.11. Horizon Bancorp has a 52 week low of $16.16 and a 52 week high of $22.13.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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Earnings History and Estimates for Horizon Bancorp (NASDAQ:HBNC)

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