Horizon Bancorp Inc reports results for the quarter ended in March - Earnings Summary

Horizon Bancorp

24/04/2024 22:44

* Horizon Bancorp Inc  HBNC.OQ  reported quarterly adjusted
earnings of 32 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 42 cents.  The mean expectation of five analysts for the
quarter was for earnings of 31 cents per share. Wall Street
expected results to range from 29 cents to 33 cents per share.
    * Revenue fell 3% to $53.22 million from a year ago;
analysts
expected $54.38 million. 
    * Horizon Bancorp Inc's reported EPS for the quarter was 32
cents​.
    * The company reported quarterly net income of $13.99
million.
    * Horizon Bancorp Inc shares had fallen by 4.4% this
quarter and
lost 14.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Horizon Bancorp
Inc is $14.00 
This summary was machine generated from LSEG data April 24 at
09:44 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.31           0.32           Beat
 Dec. 31 2023      0.31           0.33           Beat
 Sep. 30 2023      0.36           0.37           Beat
 Jun. 30 2023      0.37           0.43           Beat