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

Horizon Bancorp (IN) (NASDAQ:HBNC) declared a quarterly dividend on Tuesday, March 17th. Shareholders of record on Friday, April 3rd will be paid a dividend of 0.16 per share by the financial services provider on Friday, April 17th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, April 2nd.

Horizon Bancorp (IN) has increased its dividend by an average of 0.1%annually 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. Research analysts expect Horizon Bancorp (IN) to earn $1.88 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 34.0%.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC traded up $0.32 on Thursday, hitting $15.89. The company’s stock had a trading volume of 275,246 shares, compared to its average volume of 375,018. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.07. The firm has a market capitalization of $813.98 million, a P/E ratio of -5.04 and a beta of 0.82. The stock has a fifty day moving average of $17.35 and a two-hundred day moving average of $16.83. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.77% and a negative net margin of 37.12%.The business had revenue of $64.53 million for the quarter, compared to analyst estimates of $74.35 million. Research analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HBNC. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Zacks Research lowered shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.33.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.