Horizon Bancorp Q3 net income beats, partly due to higher gain on mortgage loan sales

Horizon Bancorp

21/10/2026 21:14

Overview
U.S. community bank's Q3 adjusted EPS beat analyst expectations
Net income for Q3 beat analyst estimates
Net interest income rose 11.6% yr/yr, driven by stable net interest margin

Outlook
Company says expectations for business remain largely unchanged despite interest rate outlook shift
Horizon expects continued low-volatility financial performance and capital compounding at peer-leading levels
Company says loan pipelines remain consistent, supporting measured, relationship-driven loan growth

Result Drivers
DISCIPLINED PRICING - Co attributed stable net interest margin to disciplined loan and deposit pricing and favorable cashflow redeployment
DEPOSIT GROWTH - Deposit balances increased, led by growth in non-time deposits and low deposit costs
MORTGAGE LOAN SALES - Higher gain on sale of mortgage loans due to increased volumes and wider margins

Company press release: ID:nGNXc4KxPT

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
Beat
$0.56
$0.54 (4 Analysts)
Q3 Net Income
Beat
$28.67 mln
$27.33 mln (4 Analysts)
Q3 Net Interest Income
 
$65.16 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "hold."
Wall Street's median 12-month price target for Horizon Bancorp Inc is $23.00, about 16.8% above its October 20 closing price of $19.70
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Oct 19 - Zions Bancorp Q3 EPS rises 20% on improved credit quality
Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%
Oct 20 - Commerce Bancshares Q3 EPS beats, helped by loan growth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)