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Horizon Bancorp (HBNC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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Horizon Bancorp (HBNC - Free Report) reported $58.42 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 8.4%. EPS of $0.41 for the same period compares to $0.37 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $58.23 million, representing a surprise of +0.32%. The company delivered an EPS surprise of +10.81%, with the consensus EPS estimate being $0.37.
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.
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: 67.2% versus the three-analyst average estimate of 64.7%.
Net Interest Margin: 2.7% compared to the 2.7% average estimate based on three analysts.
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: $7.33 billion compared to the $7.31 billion average estimate based on two analysts.
Gain on sale of mortgage loans: $1.62 million compared to the $1.10 million average estimate based on three analysts.
Total non-interest income: $11.51 million versus the three-analyst average estimate of $10.85 million.
Net Interest Income: $46.91 million compared to the $47.31 million average estimate based on three analysts.
Wire transfer fees: $0.12 million versus the two-analyst average estimate of $0.11 million.
Mortgage servicing income net of impairment: $0.41 million compared to the $0.48 million average estimate based on two analysts.
Service charges on deposit accounts: $3.32 million versus the two-analyst average estimate of $3.22 million.
Other income: $0.78 million versus the two-analyst average estimate of $0.65 million.
Fiduciary activities: $1.39 million versus $1.41 million estimated by two analysts on average.
Shares of Horizon Bancorp have returned -2.6% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Horizon Bancorp (HBNC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Horizon Bancorp (HBNC - Free Report) reported $58.42 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 8.4%. EPS of $0.41 for the same period compares to $0.37 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $58.23 million, representing a surprise of +0.32%. The company delivered an EPS surprise of +10.81%, with the consensus EPS estimate being $0.37.
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.
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: 67.2% versus the three-analyst average estimate of 64.7%.
- Net Interest Margin: 2.7% compared to the 2.7% average estimate based on three analysts.
- 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: $7.33 billion compared to the $7.31 billion average estimate based on two analysts.
- Gain on sale of mortgage loans: $1.62 million compared to the $1.10 million average estimate based on three analysts.
- Total non-interest income: $11.51 million versus the three-analyst average estimate of $10.85 million.
- Net Interest Income: $46.91 million compared to the $47.31 million average estimate based on three analysts.
- Wire transfer fees: $0.12 million versus the two-analyst average estimate of $0.11 million.
- Mortgage servicing income net of impairment: $0.41 million compared to the $0.48 million average estimate based on two analysts.
- Service charges on deposit accounts: $3.32 million versus the two-analyst average estimate of $3.22 million.
- Other income: $0.78 million versus the two-analyst average estimate of $0.65 million.
- Fiduciary activities: $1.39 million versus $1.41 million estimated by two analysts on average.
View all Key Company Metrics for Horizon Bancorp here>>>Shares of Horizon Bancorp have returned -2.6% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.