Horizon Bancorp (IN) (HBNC) Expected to Post Quarterly Sales of $42.33 Million

Analysts predict that Horizon Bancorp (IN) (NASDAQ:HBNC) will announce $42.33 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Horizon Bancorp (IN)’s earnings. The highest sales estimate is $42.60 million and the lowest is $41.90 million. Horizon Bancorp (IN) posted sales of $35.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Horizon Bancorp (IN) will report full year sales of $172.00 million for the current financial year, with estimates ranging from $170.70 million to $172.70 million. For the next fiscal year, analysts anticipate that the company will report sales of $182.60 million per share, with estimates ranging from $180.80 million to $184.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Horizon Bancorp (IN).

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $41.73 million during the quarter, compared to the consensus estimate of $40.63 million. Horizon Bancorp (IN) had a return on equity of 9.53% and a net margin of 21.79%.



Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. ValuEngine downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, BidaskClub downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Friday, April 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.83.

In other news, CEO Craig M. Dwight sold 11,387 shares of Horizon Bancorp (IN) stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $29.85, for a total transaction of $339,901.95. Following the sale, the chief executive officer now directly owns 153,153 shares in the company, valued at approximately $4,571,617.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Kuhn sold 7,500 shares of Horizon Bancorp (IN) stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 7,500 shares in the company, valued at $225,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,539 shares of company stock worth $584,488. Insiders own 4.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at about $221,000. Barclays PLC boosted its position in shares of Horizon Bancorp (IN) by 115.6% during the 1st quarter. Barclays PLC now owns 7,859 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 4,214 shares in the last quarter. Bedel Financial Consulting Inc. acquired a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at about $240,000. MetLife Investment Advisors LLC acquired a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at about $270,000. Finally, Virtu Financial LLC acquired a new stake in shares of Horizon Bancorp (IN) during the 4th quarter valued at about $282,000. Institutional investors and hedge funds own 51.55% of the company’s stock.

Horizon Bancorp (IN) traded up $0.61, hitting $31.13, during trading on Friday, according to Marketbeat Ratings. The stock had a trading volume of 2,915 shares, compared to its average volume of 72,451. The company has a market capitalization of $779.95 million, a PE ratio of 20.29 and a beta of 1.07. Horizon Bancorp has a 12 month low of $24.54 and a 12 month high of $31.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.99 and a quick ratio of 0.99.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp 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 (IN) (NASDAQ:HBNC)

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