Horizon Bancorp (IN) to Issue Quarterly Dividend of $0.16 (NASDAQ:HBNC)

Horizon Bancorp (IN) (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Friday, October 2nd will be paid a dividend of 0.16 per share by the financial services provider on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, October 2nd.

Horizon Bancorp (IN) has raised its dividend payment by an average of 0.1%per year over the last three years. Horizon Bancorp (IN) has a dividend payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Horizon Bancorp (IN) to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 29.1%.

Horizon Bancorp (IN) Stock Performance

Shares of NASDAQ:HBNC traded up $0.15 during trading on Thursday, hitting $19.64. The company’s stock had a trading volume of 184,470 shares, compared to its average volume of 464,109. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -6.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50-day moving average of $20.03 and a 200-day moving average of $18.69. Horizon Bancorp has a 12 month low of $14.97 and a 12 month high of $21.04.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.31%. The company had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $76.56 million. On average, sell-side analysts expect that Horizon Bancorp will post 2.07 earnings per share for the current year.

About Horizon Bancorp (IN)

Horizon Bancorp, Inc is a bank holding company headquartered in Michigan City, Indiana. Through its principal subsidiary, Horizon Bank, the company provides a range of banking and financial services to individuals, families, businesses and municipal customers.

Horizon Bank offers deposit accounts, consumer and commercial lending, residential mortgage loans, credit and debit cards, online and mobile banking, cash-management services and other treasury-management solutions. Its business banking activities include commercial real estate financing, commercial and industrial loans, small-business services and agricultural lending in selected markets.

Founded in 1873, Horizon has a long history of serving communities in the Midwest.