$42.33 Million in Sales Expected for Horizon Bancorp Inc (HBNC) This Quarter
Equities analysts predict that Horizon Bancorp Inc (NASDAQ:HBNC) will report sales of $42.33 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Horizon Bancorp’s earnings. The lowest sales estimate is $41.90 million and the highest is $42.60 million. Horizon Bancorp reported sales of $35.41 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.5%. The company is scheduled to report its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Horizon Bancorp will report full year sales of $172.00 million for the current fiscal year, with estimates ranging from $170.70 million to $172.70 million. For the next fiscal year, analysts forecast that the company will report sales of $182.60 million per share, with estimates ranging from $180.80 million to $184.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Horizon Bancorp.
Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 25th. The financial services provider reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). Horizon Bancorp had a net margin of 21.79% and a return on equity of 9.53%. The business had revenue of $41.73 million for the quarter, compared to the consensus estimate of $40.63 million.
Shares of Horizon Bancorp traded down $0.21, hitting $32.33, on Monday, Marketbeat Ratings reports. 83,974 shares of the company’s stock traded hands, compared to its average volume of 70,668. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.99 and a current ratio of 0.99. Horizon Bancorp has a one year low of $25.00 and a one year high of $32.85. The firm has a market cap of $828.76 million, a P/E ratio of 21.13 and a beta of 1.09.
Shares of Horizon Bancorp are going to split on Monday, June 18th. The 3-2 split was announced on Wednesday, May 16th. The newly issued shares will be distributed to shareholders after the market closes on Friday, June 15th.
In other Horizon Bancorp news, CEO Craig M. Dwight sold 11,387 shares of the firm’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $29.85, for a total value of $339,901.95. Following the sale, the chief executive officer now owns 153,153 shares of the company’s stock, valued at approximately $4,571,617.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President James D. Neff sold 3,084 shares of the firm’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $32.59, for a total transaction of $100,507.56. Following the completion of the sale, the president now directly owns 150,410 shares in the company, valued at approximately $4,901,861.90. The disclosure for this sale can be found here. In the last three months, insiders sold 17,373 shares of company stock worth $530,533. Insiders own 4.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Catalyst Capital Advisors LLC grew its holdings in Horizon Bancorp by 20.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 22,800 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 3,900 shares during the last quarter. Foundry Partners LLC grew its holdings in Horizon Bancorp by 0.9% in the 1st quarter. Foundry Partners LLC now owns 240,027 shares of the financial services provider’s stock worth $7,203,000 after acquiring an additional 2,125 shares during the last quarter. Millennium Management LLC grew its holdings in Horizon Bancorp by 87.0% in the 1st quarter. Millennium Management LLC now owns 47,941 shares of the financial services provider’s stock worth $1,439,000 after acquiring an additional 22,309 shares during the last quarter. LPL Financial LLC bought a new stake in Horizon Bancorp in the 1st quarter worth $456,000. Finally, Barclays PLC grew its holdings in Horizon Bancorp by 115.6% in the 1st quarter. Barclays PLC now owns 7,859 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 4,214 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.
About Horizon Bancorp
Horizon Bancorp 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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