Horizon Bancorp (NASDAQ:HBNC) Posts Earnings Results, Misses Expectations By $0.03 EPS

Horizon Bancorp (NASDAQ:HBNC) released its quarterly earnings data on Wednesday. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03), Zacks reports. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%.

Horizon Bancorp Stock Down 1.6 %

HBNC traded down $0.25 during trading hours on Wednesday, hitting $15.70. 170,429 shares of the company’s stock were exchanged, compared to its average volume of 153,695. The firm has a market cap of $686.40 million, a P/E ratio of 33.40 and a beta of 1.08. Horizon Bancorp has a 12-month low of $11.18 and a 12-month high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm has a 50 day moving average of $17.00 and a 200 day moving average of $15.94.

Horizon Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 4.08%. Horizon Bancorp’s dividend payout ratio is presently 136.17%.

Wall Street Analysts Forecast Growth

HBNC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 price objective for the company.

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.