Wall Street analysts forecast that Horizon Bancorp (HBNC) will report quarterly earnings of $0.50 per share in its upcoming release, pointing to a year-over-year increase of 38.9%. It is anticipated that revenues will amount to $73.4 million, exhibiting an increase of 203.7% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Horizon Bancorp metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 53.4%. The estimate is in contrast to the year-ago figure of 185.9%.
The consensus estimate for 'Average Balance - Total interest earning assets' stands at $5.97 billion. Compared to the current estimate, the company reported $7.40 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Net Interest Income' reaching $63.17 million. Compared to the current estimate, the company reported $53.13 million in the same quarter of the previous year.
The average prediction of analysts places 'Service charges on deposit accounts' at $3.47 million. The estimate is in contrast to the year-ago figure of $3.28 million.
Analysts predict that the 'Interchange fees' will reach $3.46 million. The estimate compares to the year-ago value of $3.35 million.
View all Key Company Metrics for Horizon Bancorp here>>>
Over the past month, Horizon Bancorp shares have recorded returns of -4.4% versus the Zacks S&P 500 composite's +1.6% change. Based on its Zacks Rank #3 (Hold), HBNC will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Horizon Bancorp (IN) (HBNC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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