Horizon Bancorp (NASDAQ:HBNC) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Horizon Bancorp (NASDAQ:HBNCGet Rating) issued its earnings results on Wednesday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.07, MarketWatch Earnings reports. Horizon Bancorp had a return on equity of 12.64% and a net margin of 33.76%. During the same quarter in the previous year, the company earned $0.46 EPS.

Shares of Horizon Bancorp stock traded down $0.22 during trading hours on Friday, reaching $18.07. The company had a trading volume of 262 shares, compared to its average volume of 150,950. The firm has a market cap of $787.18 million, a PE ratio of 9.28 and a beta of 1.15. Horizon Bancorp has a one year low of $15.66 and a one year high of $23.80. The business has a fifty day simple moving average of $19.38 and a 200 day simple moving average of $20.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.72 and a quick ratio of 0.72.

The company also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, April 8th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, April 7th. Horizon Bancorp’s dividend payout ratio is currently 30.46%.

HBNC has been the topic of several recent analyst reports. Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, April 1st. StockNews.com downgraded Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday.

In other news, President James D. Neff sold 11,782 shares of Horizon Bancorp stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $20.25, for a total value of $238,585.50. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.52% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC lifted its holdings in shares of Horizon Bancorp by 2.5% in the 3rd quarter. LPL Financial LLC now owns 38,416 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 941 shares during the last quarter. California State Teachers Retirement System boosted its stake in Horizon Bancorp by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 56,796 shares of the financial services provider’s stock valued at $1,184,000 after acquiring an additional 1,012 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Horizon Bancorp by 1.3% in the fourth quarter. Parametric Portfolio Associates LLC now owns 162,874 shares of the financial services provider’s stock valued at $3,396,000 after acquiring an additional 2,042 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Horizon Bancorp by 65.2% during the third quarter. Royal Bank of Canada now owns 5,768 shares of the financial services provider’s stock worth $104,000 after buying an additional 2,277 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Horizon Bancorp by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 282,516 shares of the financial services provider’s stock valued at $5,891,000 after purchasing an additional 2,299 shares during the period. Institutional investors and hedge funds own 53.67% of the company’s stock.

About Horizon Bancorp (Get Rating)

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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Earnings History for Horizon Bancorp (NASDAQ:HBNC)

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