Horizon Bancorp (IN) (NASDAQ:HBNC) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.03, Zacks reports. The firm had revenue of $66.27 million for the quarter, compared to analyst estimates of $66.45 million. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.30%.

Horizon Bancorp (IN) Trading Up 1.1%

Shares of HBNC stock traded up $0.17 on Friday, hitting $15.62. 280,900 shares of the company's stock traded hands, compared to its average volume of 164,939. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.18. The company's fifty day simple moving average is $15.31 and its 200 day simple moving average is $15.46. The stock has a market capitalization of $687.44 million, a price-to-earnings ratio of 13.35 and a beta of 0.84.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, July 3rd. Horizon Bancorp (IN)'s dividend payout ratio is currently 54.70%.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Horizon Bancorp (IN) by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 1,057 shares during the last quarter. Jane Street Group LLC purchased a new stake in Horizon Bancorp (IN) during the 1st quarter valued at $1,231,000. Finally, Empowered Funds LLC boosted its position in Horizon Bancorp (IN) by 28.5% during the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider's stock valued at $2,269,000 after buying an additional 33,355 shares during the period. Institutional investors own 64.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of Horizon Bancorp (IN) from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen lowered shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "market perform" rating in a report on Friday.

Horizon Bancorp (IN) Company Profile

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.