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Compared to Estimates, Horizon Bancorp (HBNC) Q4 Earnings: A Look at Key Metrics
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Horizon Bancorp (HBNC - Free Report) reported $21.81 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 63.3%. EPS of $0.33 for the same period compares to $0.48 a year ago.
The reported revenue represents a surprise of -57.65% over the Zacks Consensus Estimate of $51.5 million. With the consensus EPS estimate being $0.29, the EPS surprise was +13.79%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 180.4% versus the three-analyst average estimate of 68.1%.
Net Interest Margin: 2.4% versus the three-analyst average estimate of 2.3%.
Percent of net charge-offs to average loans outstanding for the period: 0% versus the two-analyst average estimate of 0.1%.
Average Balance - Total interest earning assets: $7.24 billion compared to the $7.29 billion average estimate based on two analysts.
Gain on sale of mortgage loans: $0.95 million compared to the $0.93 million average estimate based on three analysts.
Net Interest Income: $42.26 million versus $40.82 million estimated by three analysts on average.
Interchange fees: $3.22 million versus the two-analyst average estimate of $3.15 million.
Other income: $1.02 million versus the two-analyst average estimate of $0.43 million.
Mortgage servicing income net of impairment: $0.72 million compared to the $0.62 million average estimate based on two analysts.
Service charges on deposit accounts: $3.09 million versus $3.10 million estimated by two analysts on average.
Fiduciary activities: $1.35 million compared to the $1.20 million average estimate based on two analysts.
Increase in cash value of bank owned life insurance: $0.66 million versus the two-analyst average estimate of $1.04 million.
Shares of Horizon Bancorp have returned -4.5% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Horizon Bancorp (HBNC) Q4 Earnings: A Look at Key Metrics
Horizon Bancorp (HBNC - Free Report) reported $21.81 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 63.3%. EPS of $0.33 for the same period compares to $0.48 a year ago.
The reported revenue represents a surprise of -57.65% over the Zacks Consensus Estimate of $51.5 million. With the consensus EPS estimate being $0.29, the EPS surprise was +13.79%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 180.4% versus the three-analyst average estimate of 68.1%.
- Net Interest Margin: 2.4% versus the three-analyst average estimate of 2.3%.
- Percent of net charge-offs to average loans outstanding for the period: 0% versus the two-analyst average estimate of 0.1%.
- Average Balance - Total interest earning assets: $7.24 billion compared to the $7.29 billion average estimate based on two analysts.
- Gain on sale of mortgage loans: $0.95 million compared to the $0.93 million average estimate based on three analysts.
- Net Interest Income: $42.26 million versus $40.82 million estimated by three analysts on average.
- Interchange fees: $3.22 million versus the two-analyst average estimate of $3.15 million.
- Other income: $1.02 million versus the two-analyst average estimate of $0.43 million.
- Mortgage servicing income net of impairment: $0.72 million compared to the $0.62 million average estimate based on two analysts.
- Service charges on deposit accounts: $3.09 million versus $3.10 million estimated by two analysts on average.
- Fiduciary activities: $1.35 million compared to the $1.20 million average estimate based on two analysts.
- Increase in cash value of bank owned life insurance: $0.66 million versus the two-analyst average estimate of $1.04 million.
View all Key Company Metrics for Horizon Bancorp here>>>Shares of Horizon Bancorp have returned -4.5% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.