Horizon Bancorp, Inc. (NASDAQ:HBNC) Announces $0.16 Quarterly Dividend

Horizon Bancorp, Inc. (NASDAQ:HBNC) announced a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Friday, April 4th will be paid 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 increased its dividend payment by an average of 4.6% per year over the last three years. Horizon Bancorp has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.5 %

Shares of HBNC traded down $0.08 during midday trading on Thursday, hitting $15.61. The stock had a trading volume of 117,217 shares, compared to its average volume of 157,262. The stock’s 50 day moving average is $16.41 and its 200 day moving average is $16.45. The firm has a market cap of $682.39 million, a PE ratio of 19.51 and a beta of 1.05. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. Horizon Bancorp has a 1 year low of $11.18 and a 1 year high of $19.18.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler lowered their target price on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th.

About Horizon Bancorp

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.