Horizon Bancorp (NASDAQ:HBNC) released its earnings results on Wednesday. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10, MarketWatch Earnings reports. The company had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $52.50 million. Horizon Bancorp had a net margin of 25.36% and a return on equity of 10.15%.

Horizon Bancorp stock traded down $0.60 during midday trading on Friday, reaching $9.94. The company had a trading volume of 6,354 shares, compared to its average volume of 127,870. The company has a market capitalization of $456.08 million, a P/E ratio of 6.82 and a beta of 1.31. Horizon Bancorp has a 12-month low of $7.42 and a 12-month high of $19.48. The firm’s fifty day simple moving average is $10.01 and its 200-day simple moving average is $12.15. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.97 and a quick ratio of 0.97.

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date was Wednesday, July 1st. Horizon Bancorp’s dividend payout ratio is presently 29.27%.

HBNC has been the subject of several research reports. BidaskClub upgraded shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 10th. ValuEngine upgraded shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Piper Sandler raised their target price on Horizon Bancorp from $14.00 to $14.50 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Zacks Investment Research upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.50.

About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.

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Earnings History for Horizon Bancorp (NASDAQ:HBNC)

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