SDSUV Result 2017

Horizon Bancorp is in the financial services sector and banking industry. The company CEO is Craig M. Dwight. Horizon Bancorp IN is a holding company providing banking services through its Horizon Bank N.A. It provides retail banking services as well as commercial loans, real estate loans, mortgage warehouse loans, consumer loans and other credit facilities.

Previous Intraday Performance:

The HBNC shares had a previous change of 3.20% which opened at 15.69 and closed at 16.11. It moved to an intraday high of 16.15 and a low of 15.69.

SeekingAlpha:  Horizon beats by $0.04, beats on revenue

Historical Performance:

Over the last five trading days, HBNC shares returned 1.38% and in the past 30 trading days it returned 0.19%. Over three months, it changed -7.90%. In one year it has changed -23.13% and within that year its 52 week high was 22.13 and its 52 week low was 14.79. HBNC stock is 8.92% above its 52 week low.

Our calculations result in a 200 day moving average of 17.18 and a 50 day moving average of 16.23. Right now, HBNC stock is trading -6.25% below its 200 day moving average and may not be a great opportunity to buy as it may continue to trend down.

SeekingAlpha:  Horizon beats by $0.04, beats on revenue


The company has a market cap of $725.8m with 45.1m shares outstanding and a float of 43.9m shares. Trading volume was 70,954 shares and has experienced an average volume of 81,013 shares. Our calculation, using the current average volume and close price, leads me to believe that the liquidity is bad, highly speculative and an investor may want to avoid this stock.


The last annual reported EPS for Horizon Bancorp was 1.38 which ended on 31st of December 2018, which according to the previous close, that is a PE of 11.67. Based on 3 analyst estimates, the consensus EPS for the next quarter is 0.32. The trailing twelve month EPS reported is 1.31 (trailing twelve month diluted EPS is 1.33).

Below was the last reported quarterly diluted earnings per share:

1stQtr 2019Reported 04-24-2019: 0.28
4thQtr 2018Reported 01-29-2019: 0.34
3rdQtr 2018Reported 10-29-2018: 0.34
2ndQtr 2018Reported 07-25-2018: 0.37
1stQtr 2018Reported 04-25-2018: 0.33

Base on our calculations, the intrinsic value per share is 22.38, which means it might be undervalued and has a margin of safety of 28.01%.

The growth of the EPS is critical in understanding the current valuation of Horizon Bancorp; the EPS growth rate, as it is typically called, is usually expressed as a percentage, which at this time is hard to estimate, but revenue growth has been 5.10% over the last twelve months.

Indicators Also to Watch:

Based on the latest filings, there is 4.40% of insider ownership and 69.90% of institutional ownership.

The beta was calculated to be 0.97.

Business Wire:  IF Bancorp, Inc. Announces Results for Third Quarter of Fiscal Year 2019

Fundamental Numbers:

Based on last reported financials, the company’s return on assets is 1.13%, profit margin is 24.71%, price-to-sales is 3.40 and price-to-book is 1.15.

Company Score Card:

Results are out of six:
 4  : Growth Expectations Result
 5  : Financial Safety Result
 2  : Past Performance Result
 4  : Valuation Result
 4  : Dividend Safety Result
 3  : Overall Result

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I am an independent trader, analyst and algorithmic trading expert, having worked both for the sell side (brokerage) and the buy side (fund administration). I have been trading professionally for about 20 years. I trade stocks and forex and I play both long and short positions in underlying asset or through options. I have experience with discretionary and fully automated systems (Metatrader and Quantshare).


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