Analysts Expect Horizon Bancorp Inc (NASDAQ:HBNC) Will Announce Quarterly Sales of $53.92 Million

Analysts predict that Horizon Bancorp Inc (NASDAQ:HBNC) will announce sales of $53.92 million for the current quarter, Zacks reports. Three analysts have issued estimates for Horizon Bancorp’s earnings. The lowest sales estimate is $53.50 million and the highest is $54.47 million. Horizon Bancorp posted sales of $42.31 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.4%. The company is scheduled to announce its next earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Horizon Bancorp will report full-year sales of $203.95 million for the current fiscal year, with estimates ranging from $203.40 million to $204.74 million. For the next financial year, analysts forecast that the business will report sales of $214.65 million, with estimates ranging from $212.60 million to $216.04 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $54.98 million during the quarter, compared to analysts’ expectations of $53.55 million. Horizon Bancorp had a return on equity of 10.74% and a net margin of 25.66%.

HBNC has been the subject of several recent research reports. Zacks Investment Research raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. ValuEngine cut Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Finally, BidaskClub cut Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th.

In related news, EVP Mark E. Secor sold 10,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.77, for a total transaction of $187,700.00. Following the completion of the transaction, the executive vice president now directly owns 2,464 shares of the company’s stock, valued at $46,249.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michele M. Magnuson sold 18,138 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $18.50, for a total value of $335,553.00. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of HBNC. Marshall Wace LLP acquired a new position in Horizon Bancorp during the first quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its position in shares of Horizon Bancorp by 277.2% in the second quarter. Meeder Asset Management Inc. now owns 1,905 shares of the financial services provider’s stock valued at $31,000 after buying an additional 1,400 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Horizon Bancorp by 76.1% in the second quarter. Bank of Montreal Can now owns 7,319 shares of the financial services provider’s stock valued at $120,000 after buying an additional 3,162 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Horizon Bancorp in the second quarter valued at approximately $163,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Horizon Bancorp by 13.5% in the second quarter. JPMorgan Chase & Co. now owns 10,252 shares of the financial services provider’s stock valued at $166,000 after buying an additional 1,218 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Shares of HBNC stock traded up $0.07 on Friday, hitting $18.95. 46,048 shares of the stock were exchanged, compared to its average volume of 84,696. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $849.03 million, a P/E ratio of 14.92 and a beta of 1.00. The business has a 50-day moving average of $18.57 and a 200 day moving average of $17.02. Horizon Bancorp has a fifty-two week low of $14.79 and a fifty-two week high of $19.14.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides 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 and Estimates for Horizon Bancorp (NASDAQ:HBNC)

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