Horizon Bancorp (NASDAQ:HBNC) Posts Earnings Results

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

Horizon Bancorp Stock Down 1.6 %

Shares of Horizon Bancorp stock traded down $0.25 during midday trading on Wednesday, hitting $15.70. The company had a trading volume of 170,429 shares, compared to its average volume of 153,695. 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 market capitalization of $686.40 million, a P/E ratio of 33.40 and a beta of 1.08. The company has a 50 day moving average of $17.00 and a 200 day moving average of $15.94. Horizon Bancorp has a 52-week low of $11.18 and a 52-week high of $19.18.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors 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 dividend yield of 4.08%. Horizon Bancorp’s payout ratio is currently 136.17%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Hovde Group initiated coverage on Horizon Bancorp in a report on Monday, September 30th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their price target 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.

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.