Horizon Bancorp (HBNC) Misses Q4 Earnings and Revenue Estimates

Horizon Bancorp (HBNC) came out with quarterly earnings of $0.48 per share, missing the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -2.04%. A quarter ago, it was expected that this bank holding company would post earnings of $0.58 per share when it actually produced earnings of $0.55, delivering a surprise of -5.17%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Horizon Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $59.46 million for the quarter ended December 2022, missing the Zacks Consensus Estimate by 7%. This compares to year-ago revenues of $62.8 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.