Last $24.63 USD
Change Today -0.46 / -1.83%
Volume 8.4K
HBNC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

horizon bancorp indiana (HBNC) Snapshot

Open
$24.84
Previous Close
$25.09
Day High
$25.05
Day Low
$24.63
52 Week High
12/23/14 - $26.75
52 Week Low
05/20/14 - $19.38
Market Cap
228.5M
Average Volume 10 Days
17.6K
EPS TTM
$1.99
Shares Outstanding
9.3M
EX-Date
12/30/14
P/E TM
12.4x
Dividend
$0.56
Dividend Yield
2.07%
Current Stock Chart for HORIZON BANCORP INDIANA (HBNC)

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horizon bancorp indiana (HBNC) Details

Horizon Bancorp operates as the bank holding company for Horizon Bank, N.A. that provides commercial and retail banking services in Northwestern and Central Indiana and Southwest Michigan. The company offers demand deposits, non-interest bearing and interest-bearing checking accounts, savings accounts, now accounts, and money market deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; mortgage warehouse, residential mortgage, and residential construction loans; and consumer loans. The company also provides corporate and individual trust and agency services, and investment management services. It operates 29 full service offices. Horizon Bancorp was founded in 1873 and is headquartered in Michigan City, Indiana.

horizon bancorp indiana (HBNC) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $414.0K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $225.2K
Executive Vice President, President of Horizo...
Total Annual Compensation: $274.9K
Executive Vice President, President of The No...
Total Annual Compensation: $191.9K
Corporate Secretary and Executive Vice Presid...
Total Annual Compensation: $261.4K
Compensation as of Fiscal Year 2013.

horizon bancorp indiana (HBNC) Key Developments

Horizon Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Net Charge-Offs for the Fourth Quarter Ended December 31, 2014

Horizon Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company's total interest income was $19,765,000 compared to $17,439,000 a year ago. Net interest income was $16,523,000 compared to $14,129,000 a year ago. Income before income tax was $6,612,000 compared to $5,203,000 a year ago. Net income was $4,948,000 compared to $4,115,000 a year ago. The increase in net income from the previous year reflects an increase in interest income primarily due to loan growth and an increase in non-interest income due to an increase in gain on sale of loans, interchange fees and fiduciary activities partially offset by an increase in the provision expense. Net income available to common shareholders was $4,917,000 or $0.51 per diluted share compared to $4,052,000 or $0.45 per diluted share a year ago. Return on average assets was 0.96% compared to 0.93% a year ago. Return on average common stockholders' equity was 10.72% compared to 10.44% a year ago. For the year, the company's total interest income was $76,205,000 compared to $74,886,000 a year ago. Net interest income was $62,983,000 compared to $61,383,000 a year ago. Income before income tax was $24,256,000 compared to $26,924,000 a year ago. Net income was $18,101,000 compared to $19,876,000 a year ago. The decrease in net income compared to the previous year was due to $1.3 million in expenses related to the Summit acquisition in 2014 and a decrease of $3.5 million in income from acquisition-related purchase accounting adjustments partially offset by an increase of $614,000 in income from the gain on sale of investment securities. Net income available to common shareholders was $17,968,000 or $1.90 per diluted share compared to $19,506,000 or $2.17 per diluted share a year ago. Book value per common share as on December 31, 2014 was $19.75 compared to $17.64 a year ago. Tangible book value per common share as on December 31, 2014 was $16.26 compared to $14.97 a year ago. Return on average assets was 0.93% compared to 1.13% a year ago. Return on average common stockholders' equity was 10.60% compared to 12.86% a year ago. For the quarter, the company reported total net charge-offs of $636,000 compared to $859,000 a year ago.

Horizon Bancorp Mulls Acquisitions

Horizon Bancorp (NasdaqGS:HBNC) has filed a Shelf Registration in the amount of $40.00 million, will use the proceeds for funding the acquisitions of other institutions.

Horizon Bancorp Announces Quarterly Dividend, Payable on January 16, 2015

Horizon Bancorp announced that its Board of Directors has approved an increase in its quarterly dividend from 13 cents to 14 cents per share. This represents a 7.7% increase and a dividend yield of 2.25% based on the price per share of $24.84 as of the close of business on December 16, 2014, the date on which the Board approved the increase. The dividend will be paid on January 16, 2015 to shareholders of record on January 2, 2015.

 

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Industry Analysis

HBNC

Industry Average

Valuation HBNC Industry Range
Price/Earnings 13.0x
Price/Sales 2.7x
Price/Book 1.2x
Price/Cash Flow 12.5x
TEV/Sales NM Not Meaningful
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