Horizon Bancorp (NASDAQ:HBNC) Posts Quarterly Earnings Results

Horizon Bancorp (NASDAQ:HBNC) issued its earnings results on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Price Performance

Shares of NASDAQ HBNC opened at $15.70 on Thursday. The stock has a market cap of $686.40 million, a PE ratio of 33.40 and a beta of 1.08. Horizon Bancorp has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $17.00 and a 200-day moving average of $15.94.

Horizon Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on HBNC. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price 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. Finally, Hovde Group began coverage on Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price on the stock.

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.