Horizon Bancorp (IN) (HBNC) To Go Ex-Dividend on October 2nd

Horizon Bancorp (IN) (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, September 15th. Investors of record on Friday, October 2nd will be paid a dividend of 0.16 per share by the financial services provider on Friday, October 16th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, October 2nd.

Horizon Bancorp (IN) has raised its dividend payment by an average of 0.1%per year 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. Equities analysts expect Horizon Bancorp (IN) to earn $2.20 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 29.1%.

Horizon Bancorp (IN) Stock Up 0.5%

Horizon Bancorp (IN) stock traded up $0.10 during mid-day trading on Thursday, reaching $19.59. The stock had a trading volume of 202,629 shares, compared to its average volume of 464,227. The firm has a market capitalization of $1.01 billion, a PE ratio of -6.20 and a beta of 0.81. Horizon Bancorp has a fifty-two week low of $14.97 and a fifty-two week high of $21.04. The stock’s 50-day simple moving average is $20.03 and its 200-day simple moving average is $18.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 0.92.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.31%. The business had revenue of $75.50 million for the quarter, compared to the consensus estimate of $76.56 million. On average, sell-side analysts forecast that Horizon Bancorp will post 2.07 EPS for the current fiscal year.

Analyst Ratings Changes

HBNC has been the subject of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a research note on Friday, July 24th. Keefe, Bruyette & Woods raised their price objective on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Stephens reiterated an “overweight” rating and issued a $21.00 target price on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Horizon Bancorp (IN) currently has a consensus rating of “Hold” and an average target price of $22.33.

About Horizon Bancorp (IN)

Horizon Bancorp, Inc is a bank holding company headquartered in Michigan City, Indiana. Through its principal subsidiary, Horizon Bank, the company provides a range of banking and financial services to individuals, families, businesses and municipal customers.

Horizon Bank offers deposit accounts, consumer and commercial lending, residential mortgage loans, credit and debit cards, online and mobile banking, cash-management services and other treasury-management solutions. Its business banking activities include commercial real estate financing, commercial and industrial loans, small-business services and agricultural lending in selected markets.

Founded in 1873, Horizon has a long history of serving communities in the Midwest.