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Horizon Bancorp (HBNC) Reports Q2 Earnings: What Key Metrics Have to Say
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Horizon Bancorp (HBNC - Free Report) reported $55.76 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 2.4%. EPS of $0.32 for the same period compares to $0.41 a year ago.
The reported revenue represents a surprise of +1.33% over the Zacks Consensus Estimate of $55.03 million. With the consensus EPS estimate being $0.31, the EPS surprise was +3.23%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Horizon Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 67.3% compared to the 67.2% average estimate based on three analysts.
Net Interest Margin: 2.6% compared to the 2.6% average estimate based on three analysts.
Percent of net charge-offs to average loans outstanding for the period: 0.1% compared to the 0.1% average estimate based on two analysts.
Average Balance - Total interest earning assets: $7.21 billion versus $7.34 billion estimated by two analysts on average.
Gain on sale of mortgage loans: $0.90 million versus the three-analyst average estimate of $0.82 million.
Total non-interest income: $10.49 million compared to the $10.33 million average estimate based on three analysts.
Net Interest Income: $45.28 million versus the three-analyst average estimate of $44.99 million.
Wire transfer fees: $0.11 million compared to the $0.10 million average estimate based on two analysts.
Mortgage servicing income net of impairment: $0.45 million compared to the $0.47 million average estimate based on two analysts.
Service charges on deposit accounts: $3.13 million versus $3.18 million estimated by two analysts on average.
Other income: $0.38 million versus the two-analyst average estimate of $0.80 million.
Fiduciary activities: $1.37 million versus the two-analyst average estimate of $1.32 million.
Shares of Horizon Bancorp have returned +31.5% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Horizon Bancorp (HBNC) Reports Q2 Earnings: What Key Metrics Have to Say
Horizon Bancorp (HBNC - Free Report) reported $55.76 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 2.4%. EPS of $0.32 for the same period compares to $0.41 a year ago.
The reported revenue represents a surprise of +1.33% over the Zacks Consensus Estimate of $55.03 million. With the consensus EPS estimate being $0.31, the EPS surprise was +3.23%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Horizon Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 67.3% compared to the 67.2% average estimate based on three analysts.
- Net Interest Margin: 2.6% compared to the 2.6% average estimate based on three analysts.
- Percent of net charge-offs to average loans outstanding for the period: 0.1% compared to the 0.1% average estimate based on two analysts.
- Average Balance - Total interest earning assets: $7.21 billion versus $7.34 billion estimated by two analysts on average.
- Gain on sale of mortgage loans: $0.90 million versus the three-analyst average estimate of $0.82 million.
- Total non-interest income: $10.49 million compared to the $10.33 million average estimate based on three analysts.
- Net Interest Income: $45.28 million versus the three-analyst average estimate of $44.99 million.
- Wire transfer fees: $0.11 million compared to the $0.10 million average estimate based on two analysts.
- Mortgage servicing income net of impairment: $0.45 million compared to the $0.47 million average estimate based on two analysts.
- Service charges on deposit accounts: $3.13 million versus $3.18 million estimated by two analysts on average.
- Other income: $0.38 million versus the two-analyst average estimate of $0.80 million.
- Fiduciary activities: $1.37 million versus the two-analyst average estimate of $1.32 million.
View all Key Company Metrics for Horizon Bancorp here>>>Shares of Horizon Bancorp have returned +31.5% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.