Horizon Bancorp, Inc. (HBNC) to Issue Quarterly Dividend of $0.16 on April 18th

Horizon Bancorp, Inc. (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, March 18th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.16 per share by the financial services provider on Friday, April 18th. This represents a $0.64 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Friday, April 4th.

Horizon Bancorp has raised its dividend by an average of 4.6% annually over the last three years. Horizon Bancorp has a dividend payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Horizon Bancorp 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 Stock Down 0.5 %

HBNC traded down $0.08 during trading on Thursday, hitting $15.61. 117,217 shares of the company’s stock traded hands, compared to its average volume of 157,262. Horizon Bancorp has a 12-month low of $11.18 and a 12-month high of $19.18. The company’s 50 day simple moving average is $16.41 and its two-hundred day simple moving average is $16.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $682.39 million, a price-to-earnings ratio of 19.51 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. Analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler dropped their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

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.