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

Horizon Bancorp (IN) (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, June 16th. Stockholders of record on Friday, July 3rd will be given a dividend of 0.16 per share by the financial services provider on Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 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 payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Horizon Bancorp (IN) to earn $2.22 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 28.8%.

Horizon Bancorp (IN) Stock Down 0.4%

Shares of NASDAQ HBNC traded down $0.07 during trading on Wednesday, hitting $19.36. The stock had a trading volume of 166,950 shares, compared to its average volume of 360,492. Horizon Bancorp has a 12 month low of $14.34 and a 12 month high of $19.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market capitalization of $993.59 million, a PE ratio of -6.09 and a beta of 0.83. The firm has a fifty day moving average of $18.23 and a two-hundred day moving average of $17.61.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The firm had revenue of $73.48 million during the quarter, compared to analyst estimates of $76.11 million. As a group, equities research analysts forecast that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

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.