Horizon Bancorp, Inc. (HBNC) to Issue Quarterly Dividend of $0.16 on July 19th

Horizon Bancorp, Inc. (NASDAQ:HBNC) declared a quarterly dividend on Tuesday, June 18th, Zacks reports. Investors of record on Friday, July 5th will be given a dividend of 0.16 per share by the financial services provider on Friday, July 19th. This represents a $0.64 annualized dividend and a yield of 5.15%. The ex-dividend date is Friday, July 5th.

Horizon Bancorp has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Horizon Bancorp has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Horizon Bancorp to earn $1.50 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 42.7%.

Horizon Bancorp Trading Down 1.5 %

NASDAQ:HBNC traded down $0.19 on Wednesday, reaching $12.42. 20,063 shares of the company’s stock were exchanged, compared to its average volume of 156,772. The business has a fifty day moving average of $12.11 and a 200-day moving average of $12.53. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.04. Horizon Bancorp has a 52-week low of $9.22 and a 52-week high of $14.71. The firm has a market capitalization of $547.92 million, a price-to-earnings ratio of 23.22 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Horizon Bancorp had a net margin of 7.02% and a return on equity of 8.71%. The firm had revenue of $53.22 million for the quarter, compared to analyst estimates of $53.90 million. As a group, analysts expect that Horizon Bancorp will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

HBNC has been the subject of several recent analyst reports. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Piper Sandler decreased their price target on Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, April 29th.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.