Equities analysts predict that Horizon Bancorp Inc (NASDAQ:HBNC) will announce sales of $43.50 million for the current quarter, Zacks reports. Three analysts have issued estimates for Horizon Bancorp’s earnings, with estimates ranging from $43.30 million to $43.70 million. Horizon Bancorp reported sales of $40.80 million during the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The company is scheduled to report its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Horizon Bancorp will report full year sales of $170.10 million for the current financial year, with estimates ranging from $169.90 million to $170.30 million. For the next fiscal year, analysts anticipate that the firm will post sales of $208.57 million, with estimates ranging from $205.70 million to $213.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Horizon Bancorp.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.06). The business had revenue of $42.46 million for the quarter, compared to the consensus estimate of $43.43 million. Horizon Bancorp had a return on equity of 10.28% and a net margin of 24.49%.

A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. BidaskClub downgraded shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Finally, Raymond James reduced their price objective on shares of Horizon Bancorp from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Horizon Bancorp has an average rating of “Hold” and a consensus target price of $22.00.

Shares of HBNC stock opened at $16.40 on Friday. Horizon Bancorp has a 52-week low of $16.06 and a 52-week high of $22.13. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $624.63 million, a price-to-earnings ratio of 13.02 and a beta of 1.11.

A number of hedge funds have recently modified their holdings of HBNC. Vanguard Group Inc. increased its holdings in shares of Horizon Bancorp by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,649,159 shares of the financial services provider’s stock worth $32,571,000 after buying an additional 20,129 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Horizon Bancorp by 5.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 138,681 shares of the financial services provider’s stock worth $2,739,000 after buying an additional 7,687 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Horizon Bancorp by 50.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 26,491 shares of the financial services provider’s stock worth $523,000 after buying an additional 8,935 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Horizon Bancorp by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,666,075 shares of the financial services provider’s stock worth $32,905,000 after buying an additional 62,845 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Horizon Bancorp in the 3rd quarter worth $270,000. 53.17% of the stock is owned by institutional investors and hedge funds.

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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