Analysts expect Horizon Bancorp Inc (NASDAQ:HBNC) to report earnings of $0.38 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Horizon Bancorp’s earnings, with estimates ranging from $0.37 to $0.38. Horizon Bancorp posted earnings per share of $0.27 during the same quarter last year, which indicates a positive year over year growth rate of 40.7%. The company is expected to announce its next earnings report on Wednesday, October 24th.

On average, analysts expect that Horizon Bancorp will report full year earnings of $1.47 per share for the current year, with EPS estimates ranging from $1.45 to $1.47. For the next financial year, analysts expect that the firm will report earnings of $1.57 per share, with EPS estimates ranging from $1.55 to $1.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Horizon Bancorp had a net margin of 23.28% and a return on equity of 10.03%. The firm had revenue of $42.48 million for the quarter, compared to the consensus estimate of $42.33 million.

Several research firms recently issued reports on HBNC. ValuEngine downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. BidaskClub downgraded shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 30th. Finally, Stephens reaffirmed a “buy” rating and set a $24.00 price target on shares of Horizon Bancorp in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.50.

In other Horizon Bancorp news, insider Dennis Kuhn sold 5,841 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $20.72, for a total transaction of $121,025.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry N. Middleton sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.69, for a total transaction of $51,725.00. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its holdings in Horizon Bancorp by 0.8% during the 1st quarter. Northern Trust Corp now owns 263,338 shares of the financial services provider’s stock worth $7,903,000 after acquiring an additional 2,008 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Horizon Bancorp by 3.7% in the 1st quarter. ClariVest Asset Management LLC now owns 59,013 shares of the financial services provider’s stock valued at $1,771,000 after buying an additional 2,112 shares during the period. Foundry Partners LLC boosted its holdings in shares of Horizon Bancorp by 0.9% in the 1st quarter. Foundry Partners LLC now owns 240,027 shares of the financial services provider’s stock valued at $7,203,000 after buying an additional 2,125 shares during the period. Thomson Horstmann & Bryant Inc. boosted its holdings in shares of Horizon Bancorp by 5.9% in the 1st quarter. Thomson Horstmann & Bryant Inc. now owns 49,619 shares of the financial services provider’s stock valued at $1,489,000 after buying an additional 2,772 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Horizon Bancorp by 4.3% in the 1st quarter. Wells Fargo & Company MN now owns 70,700 shares of the financial services provider’s stock valued at $2,122,000 after buying an additional 2,944 shares during the period. 52.77% of the stock is owned by institutional investors.

Horizon Bancorp stock opened at $19.57 on Friday. Horizon Bancorp has a 12-month low of $17.07 and a 12-month high of $22.13. The firm has a market cap of $763.42 million, a P/E ratio of 19.19 and a beta of 0.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.20.

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 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 (NASDAQ:HBNC)

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