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Horizon Bancorp [In] (HBNC)
NASDAQ:HBNC
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.4Last Year’s EPS
$0.33Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 7.08%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment with strong net income and revenue growth, solid loan and deposit portfolio performance, and successful strategic initiatives aimed at long-term value creation. However, challenges such as flat period-end loan growth, elevated expenses, and an increase in nonperforming loans were noted.Company Guidance
During the Horizon Bancorp, Inc. Q3 2024 earnings call, substantial guidance was provided reflecting the bank's strong financial performance and strategic initiatives. The call highlighted a continued net interest income growth for the fourth consecutive quarter, with a 10% annualized average loan growth. The commercial loan portfolio grew by $9.5 million, and the mortgage portfolio by $3 million, while consumer loans decreased by $43 million. The net interest margin expanded to 2.66%, with expectations for further 7 to 10 basis points expansion in Q4. Noninterest income reached $11.5 million, surpassing guidance. Additionally, strategic actions such as the sale of $325 million in securities and the intent to divest the mortgage warehouse business were announced, aiming to enhance long-term shareholder value. The allowance for credit losses slightly increased to $52.9 million, maintaining a ratio of 1.10% of loans. The guidance for expenses in Q4 was about $42 million, with expectations for stabilization in 2025 as the bank focuses on operational efficiency and positive leverage. Overall, the bank anticipates a favorable trajectory with improved profitability and strong operating performance in the coming quarters.Positive Net Income and Revenue Growth
The third quarter results showed positive net income growth, driven by a fourth consecutive quarter of expanded net interest income and continued fee income growth. Average loan growth for the quarter was solid at 10% annualized.
Strong Deposit Portfolio
Horizon’s deposit portfolio displayed solid growth with stability in core noninterest-bearing balances. The overall deposit costs increased slightly, showcasing strong and sticky trends.
Improved Net Interest Margin
The net interest margin improved for the fourth consecutive quarter, up 2 basis points to 2.66%. Further expansion is expected in Q4.
Fee Income Exceeds Expectations
Noninterest income reached $11.5 million, exceeding guidance for the quarter, driven by new business activity in the mortgage unit and strong momentum in the treasury management business.
Strategic Initiatives for Long-term Value
The company announced strategic actions including the sale of about $325 million in securities and plans to sell the mortgage warehouse business, aimed at creating additional long-term sustainable shareholder value.
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HBNC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HBNC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $15.11 | $16.02 | +6.02% |
| Jul 24, 2024 | $14.92 | $16.12 | +8.04% |
| Apr 24, 2024 | $11.89 | $11.57 | -2.69% |
| Jan 24, 2024 | $13.63 | $13.18 | -3.30% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Horizon Bancorp [In] (HBNC) report earnings?
Horizon Bancorp [In] (HBNC) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Horizon Bancorp [In] (HBNC) earnings time?
Horizon Bancorp [In] (HBNC) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HBNC EPS forecast?
HBNC EPS forecast for the fiscal quarter 2024 (Q4) is $0.4.
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