Horizon Bancorp (NASDAQ:HBNC) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Horizon Bancorp (NASDAQ:HBNC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03), Zacks reports. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%.

Horizon Bancorp Price Performance

HBNC stock opened at $16.43 on Friday. The company has a market capitalization of $718.32 million, a P/E ratio of 20.54 and a beta of 1.08. Horizon Bancorp has a twelve month low of $11.18 and a twelve month high of $19.18. The business has a 50 day simple moving average of $16.94 and a 200-day simple moving average of $15.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a $0.16 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 3.90%. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HBNC. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. 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 for the company. Finally, StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

About Horizon Bancorp

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.