Horizon Bancorp (IN) (NASDAQ:HBNC) Plans $0.16 Quarterly Dividend

Horizon Bancorp (IN) (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, June 16th. Investors of record on Friday, July 3rd will be given a dividend of 0.16 per share by the financial services provider on Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 2nd.

Horizon Bancorp (IN) has increased its dividend by an average of 0.1%annually over the last three years. Horizon Bancorp (IN) has a dividend payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Horizon Bancorp (IN) to earn $2.22 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 28.8%.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC traded down $0.18 during midday trading on Wednesday, reaching $19.25. The stock had a trading volume of 201,012 shares, compared to its average volume of 360,571. The stock has a market capitalization of $988.26 million, a P/E ratio of -6.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. Horizon Bancorp has a 1-year low of $14.34 and a 1-year high of $19.93. The firm’s fifty day simple moving average is $18.23 and its 200-day simple moving average is $17.61.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. On average, equities research analysts forecast that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.