Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products. It operates through a network of 78 full-service offices in northern and central Indiana and southern and central Michigan. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.
Horizon Bancorp Stock Performance
HBNC Stock opened at $20.59 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50 day moving average price of $17.98 and a 200 day moving average price of $18.69. Horizon Bancorp has a fifty-two week low of $16.45 and a fifty-two week high of $23.80. The stock has a market capitalization of $897.11 million, a PE ratio of 9.71 and a beta of 1.08.
Horizon Bancorp (NASDAQ:HBNC - Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. Horizon Bancorp had a net margin of 34.40% and a return on equity of 13.65%. The firm had revenue of $65.44 million during the quarter, compared to analysts' expectations of $62.97 million. During the same quarter in the previous year, the company posted $0.51 EPS. Analysts forecast that Horizon Bancorp will post 2.28 EPS for the current year.
Horizon Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 8th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, July 7th. This is a boost from Horizon Bancorp's previous quarterly dividend of $0.15. Horizon Bancorp's payout ratio is 30.19%.
Analyst Ratings Changes
HBNC has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Horizon Bancorp from a "hold" rating to a "buy" rating in a research note on Thursday, July 28th. Raymond James cut shares of Horizon Bancorp from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $23.00 to $22.00 in a research note on Thursday, July 7th.