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Horizon Bancorp (HBNC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Horizon Bancorp (HBNC - Free Report) reported $57.16 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 12.7%. EPS of $0.41 for the same period compares to $0.56 a year ago.
The reported revenue represents a surprise of +2.01% over the Zacks Consensus Estimate of $56.03 million. With the consensus EPS estimate being $0.38, the EPS surprise was +7.89%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 63.44% versus the three-analyst average estimate of 61.32%.
Net Interest Margin: 2.69% versus the three-analyst average estimate of 2.62%.
Net charge-offs to average loans: 0.01% versus the two-analyst average estimate of 0.08%.
Total interest earning assets: $7.21 billion compared to the $7.25 billion average estimate based on two analysts.
Gain on Sale of Mortgage Loans: $1.01 million compared to the $1.13 million average estimate based on three analysts.
Total non-interest income: $11 million versus $10.91 million estimated by three analysts on average.
Net Interest Income: $46.16 million versus the three-analyst average estimate of $45.44 million.
Wire transfer fees: $0.12 million compared to the $0.11 million average estimate based on two analysts.
Mortgage servicing income net of impairment: $0.64 million versus $0.71 million estimated by two analysts on average.
Service charges on deposit accounts: $3.02 million versus $3.05 million estimated by two analysts on average.
Other income: $0.35 million versus the two-analyst average estimate of $0.54 million.
Fiduciary activities: $1.25 million compared to the $2.11 million average estimate based on two analysts.
Shares of Horizon Bancorp have returned +13.4% over the past month versus the Zacks S&P 500 composite's +5.1% 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) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Horizon Bancorp (HBNC - Free Report) reported $57.16 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 12.7%. EPS of $0.41 for the same period compares to $0.56 a year ago.
The reported revenue represents a surprise of +2.01% over the Zacks Consensus Estimate of $56.03 million. With the consensus EPS estimate being $0.38, the EPS surprise was +7.89%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 63.44% versus the three-analyst average estimate of 61.32%.
- Net Interest Margin: 2.69% versus the three-analyst average estimate of 2.62%.
- Net charge-offs to average loans: 0.01% versus the two-analyst average estimate of 0.08%.
- Total interest earning assets: $7.21 billion compared to the $7.25 billion average estimate based on two analysts.
- Gain on Sale of Mortgage Loans: $1.01 million compared to the $1.13 million average estimate based on three analysts.
- Total non-interest income: $11 million versus $10.91 million estimated by three analysts on average.
- Net Interest Income: $46.16 million versus the three-analyst average estimate of $45.44 million.
- Wire transfer fees: $0.12 million compared to the $0.11 million average estimate based on two analysts.
- Mortgage servicing income net of impairment: $0.64 million versus $0.71 million estimated by two analysts on average.
- Service charges on deposit accounts: $3.02 million versus $3.05 million estimated by two analysts on average.
- Other income: $0.35 million versus the two-analyst average estimate of $0.54 million.
- Fiduciary activities: $1.25 million compared to the $2.11 million average estimate based on two analysts.
View all Key Company Metrics for Horizon Bancorp here>>>Shares of Horizon Bancorp have returned +13.4% over the past month versus the Zacks S&P 500 composite's +5.1% 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.