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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.23
HBNC's Cash to Debt is ranked lower than
86% of the 1610 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.14 vs. HBNC: 0.23 )
Ranked among companies with meaningful Cash to Debt only.
HBNC' s Cash to Debt Range Over the Past 10 Years
Min: 0.05  Med: 0.21 Max: 1.03
Current: 0.23
0.05
1.03
Equity to Asset 0.11
HBNC's Equity to Asset is ranked higher than
58% of the 1614 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. HBNC: 0.11 )
Ranked among companies with meaningful Equity to Asset only.
HBNC' s Equity to Asset Range Over the Past 10 Years
Min: 0.04  Med: 0.07 Max: 0.11
Current: 0.11
0.04
0.11
Interest Coverage 1.59
HBNC's Interest Coverage is ranked lower than
51% of the 1610 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.66 vs. HBNC: 1.59 )
Ranked among companies with meaningful Interest Coverage only.
HBNC' s Interest Coverage Range Over the Past 10 Years
Min: 0.26  Med: 1.3 Max: 2.01
Current: 1.59
0.26
2.01
F-Score: 3
M-Score: -2.11
WACC vs ROIC
6.99%
3.40%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 26.39
HBNC's Operating margin (%) is ranked lower than
62% of the 1627 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 31.10 vs. HBNC: 26.39 )
Ranked among companies with meaningful Operating margin (%) only.
HBNC' s Operating margin (%) Range Over the Past 10 Years
Min: 17.9  Med: 25.36 Max: 32.72
Current: 26.39
17.9
32.72
Net-margin (%) 19.29
HBNC's Net-margin (%) is ranked lower than
62% of the 1625 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 22.46 vs. HBNC: 19.29 )
Ranked among companies with meaningful Net-margin (%) only.
HBNC' s Net-margin (%) Range Over the Past 10 Years
Min: 14.59  Med: 19.06 Max: 22.85
Current: 19.29
14.59
22.85
ROE (%) 7.98
HBNC's ROE (%) is ranked lower than
55% of the 1623 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.50 vs. HBNC: 7.98 )
Ranked among companies with meaningful ROE (%) only.
HBNC' s ROE (%) Range Over the Past 10 Years
Min: 7.1  Med: 9.92 Max: 13.59
Current: 7.98
7.1
13.59
ROA (%) 0.82
HBNC's ROA (%) is ranked lower than
56% of the 1632 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.90 vs. HBNC: 0.82 )
Ranked among companies with meaningful ROA (%) only.
HBNC' s ROA (%) Range Over the Past 10 Years
Min: 0.66  Med: 0.85 Max: 1.15
Current: 0.82
0.66
1.15
Revenue Growth (3Y)(%) -1.50
HBNC's Revenue Growth (3Y)(%) is ranked lower than
75% of the 1366 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 4.20 vs. HBNC: -1.50 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
HBNC' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -10.4  Med: 6.7 Max: 69.2
Current: -1.5
-10.4
69.2
EBITDA Growth (3Y)(%) -10.10
HBNC's EBITDA Growth (3Y)(%) is ranked lower than
85% of the 1264 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.20 vs. HBNC: -10.10 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
HBNC' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -10.1  Med: 4.45 Max: 24.8
Current: -10.1
-10.1
24.8
EPS Growth (3Y)(%) -6.30
HBNC's EPS Growth (3Y)(%) is ranked lower than
80% of the 1244 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.50 vs. HBNC: -6.30 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
HBNC' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: -6.3  Med: 7.2 Max: 50.7
Current: -6.3
-6.3
50.7
GuruFocus has detected 8 Warning Signs with Horizon Bancorp (IN) $HBNC.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» HBNC's 10-Y Financials

Financials (Next Earnings Date: Est. 2017-04-25)


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

HBNC Guru Trades in Q1 2016

Jim Simons 140,150 sh (+2.15%)
Keeley Asset Management Corp 11,000 sh (-8.33%)
» More
Q2 2016

HBNC Guru Trades in Q2 2016

Jim Simons 158,155 sh (+12.85%)
Keeley Asset Management Corp 11,067 sh (+0.61%)
» More
Q3 2016

HBNC Guru Trades in Q3 2016

Keeley Asset Management Corp 16,620 sh (+50.18%)
Jim Simons 189,120 sh (+19.58%)
» More
Q4 2016

HBNC Guru Trades in Q4 2016

Keeley Asset Management Corp Sold Out
Jim Simons 240,170 sh (-15.34%)
» More
» Details

Insider Trades

Latest Guru Trades with HBNC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Banks » Banks - Regional - US    NAICS: 522110    SIC: 6021
Compare:NAS:PCBK, NAS:QCRH, NYSE:OFG, NAS:THFF, NAS:PEBO, NAS:PGC, NAS:CACB, NAS:MBWM, NAS:FFWM, NAS:MSBI, NAS:HTBK, NAS:GNBC, NAS:LION, NAS:TSC, NAS:PSTB, NAS:XBKS, NAS:OKSB, NAS:FBNC, NYSE:FSB, NAS:CAC » details
Horizon Bancorp (IN) is a bank holding company. It provides various banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. and other affiliated entities.

Horizon Bancorp (IN) is a registered bank holding company incorporated in Indiana. It provides various banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities. The Company operates as a single segment, which is commercial banking. The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. The Bank grants commercial, real estate, and consumer loans to customers located mainly in Northwest Indiana and Southwest Michigan and provide mortgage warehouse lines to mortgage companies in the United States. The Bank competes with other commercial banks as well as with savings and loan associations, consumer finance companies and credit unions. It competes with Chicago money center banks, mortgage banking companies, insurance companies, brokerage houses, and other institutions engaged in money market financial services and certain government agencies. As a bank holding company, the Company is subject to regulations, supervision, and examination by the Board of Governors of the Federal Reserve System as its primary federal regulator. The Bank, as a nationally chartered bank, is subject to regulation, supervision and examination by the Office of the Comptroller of the Currency as its primary federal regulator and, as to certain matters, by the FRB and the Federal Deposit Insurance Corporation.

Ratios

vs
industry
vs
history
P/E(ttm) 24.08
HBNC's P/E(ttm) is ranked lower than
83% of the 1585 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.23 vs. HBNC: 24.08 )
Ranked among companies with meaningful P/E(ttm) only.
HBNC' s P/E(ttm) Range Over the Past 10 Years
Min: 4.15  Med: 9.88 Max: 25.69
Current: 24.08
4.15
25.69
Forward P/E 15.08
HBNC's Forward P/E is ranked higher than
57% of the 390 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 16.21 vs. HBNC: 15.08 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 24.08
HBNC's PE(NRI) is ranked lower than
82% of the 1517 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.53 vs. HBNC: 24.08 )
Ranked among companies with meaningful PE(NRI) only.
HBNC' s PE(NRI) Range Over the Past 10 Years
Min: 4.17  Med: 9.91 Max: 25.69
Current: 24.08
4.17
25.69
Price/Owner Earnings (ttm) 83.87
HBNC's Price/Owner Earnings (ttm) is ranked lower than
96% of the 868 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.84 vs. HBNC: 83.87 )
Ranked among companies with meaningful Price/Owner Earnings (ttm) only.
HBNC' s Price/Owner Earnings (ttm) Range Over the Past 10 Years
Min: 2.19  Med: 9.4 Max: 126.42
Current: 83.87
2.19
126.42
P/B 1.71
HBNC's P/B is ranked lower than
76% of the 1683 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.19 vs. HBNC: 1.71 )
Ranked among companies with meaningful P/B only.
HBNC' s P/B Range Over the Past 10 Years
Min: 0.44  Med: 1.13 Max: 1.82
Current: 1.71
0.44
1.82
P/S 4.63
HBNC's P/S is ranked lower than
71% of the 1674 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.44 vs. HBNC: 4.63 )
Ranked among companies with meaningful P/S only.
HBNC' s P/S Range Over the Past 10 Years
Min: 0.66  Med: 1.92 Max: 4.94
Current: 4.63
0.66
4.94
PFCF 45.49
HBNC's PFCF is ranked lower than
91% of the 868 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.80 vs. HBNC: 45.49 )
Ranked among companies with meaningful PFCF only.
HBNC' s PFCF Range Over the Past 10 Years
Min: 1.77  Med: 6.18 Max: 48.53
Current: 45.49
1.77
48.53
POCF 40.70
HBNC's POCF is ranked lower than
92% of the 933 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.53 vs. HBNC: 40.70 )
Ranked among companies with meaningful POCF only.
HBNC' s POCF Range Over the Past 10 Years
Min: 1.58  Med: 5.12 Max: 132.54
Current: 40.7
1.58
132.54
EV-to-EBIT 24.95
HBNC's EV-to-EBIT is ranked lower than
80% of the 1281 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.38 vs. HBNC: 24.95 )
Ranked among companies with meaningful EV-to-EBIT only.
HBNC' s EV-to-EBIT Range Over the Past 10 Years
Min: 13.8  Med: 26.7 Max: 44.5
Current: 24.95
13.8
44.5
EV-to-EBITDA 22.36
HBNC's EV-to-EBITDA is ranked lower than
80% of the 1295 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.35 vs. HBNC: 22.36 )
Ranked among companies with meaningful EV-to-EBITDA only.
HBNC' s EV-to-EBITDA Range Over the Past 10 Years
Min: 12.5  Med: 22.4 Max: 36
Current: 22.36
12.5
36
Shiller P/E 21.88
HBNC's Shiller P/E is ranked lower than
51% of the 489 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.50 vs. HBNC: 21.88 )
Ranked among companies with meaningful Shiller P/E only.
HBNC' s Shiller P/E Range Over the Past 10 Years
Min: 4.96  Med: 13.1 Max: 23.33
Current: 21.88
4.96
23.33

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.56
HBNC's Dividend Yield is ranked lower than
75% of the 2302 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.67 vs. HBNC: 1.56 )
Ranked among companies with meaningful Dividend Yield only.
HBNC' s Dividend Yield Range Over the Past 10 Years
Min: 1.46  Med: 2.24 Max: 6.02
Current: 1.56
1.46
6.02
Dividend Payout 0.31
HBNC's Dividend Payout is ranked higher than
54% of the 1292 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.33 vs. HBNC: 0.31 )
Ranked among companies with meaningful Dividend Payout only.
HBNC' s Dividend Payout Range Over the Past 10 Years
Min: 0.16  Med: 0.24 Max: 0.35
Current: 0.31
0.16
0.35
Dividend Growth (3y) 13.60
HBNC's Dividend Growth (3y) is ranked higher than
66% of the 766 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.70 vs. HBNC: 13.60 )
Ranked among companies with meaningful Dividend Growth (3y) only.
HBNC' s Dividend Growth (3y) Range Over the Past 10 Years
Min: 0  Med: 6.8 Max: 18
Current: 13.6
0
18
Forward Dividend Yield 1.68
HBNC's Forward Dividend Yield is ranked lower than
76% of the 2243 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.84 vs. HBNC: 1.68 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 3.15
HBNC's Yield on cost (5-Year) is ranked lower than
52% of the 2646 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.34 vs. HBNC: 3.15 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
HBNC' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 2.95  Med: 4.53 Max: 12.16
Current: 3.15
2.95
12.16
3-Year Average Share Buyback Ratio -19.60
HBNC's 3-Year Average Share Buyback Ratio is ranked lower than
88% of the 1063 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -2.10 vs. HBNC: -19.60 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
HBNC' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -19.6  Med: -1 Max: 2.3
Current: -19.6
-19.6
2.3

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 2.29
HBNC's Price/Tangible Book is ranked lower than
83% of the 1680 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.23 vs. HBNC: 2.29 )
Ranked among companies with meaningful Price/Tangible Book only.
HBNC' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.57  Med: 1.36 Max: 2.44
Current: 2.29
0.57
2.44
Price/Projected FCF 1.22
HBNC's Price/Projected FCF is ranked lower than
77% of the 911 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.84 vs. HBNC: 1.22 )
Ranked among companies with meaningful Price/Projected FCF only.
HBNC' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.23  Med: 0.64 Max: 1.3
Current: 1.22
0.23
1.3
Price/Median PS Value 2.41
HBNC's Price/Median PS Value is ranked lower than
95% of the 1545 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.16 vs. HBNC: 2.41 )
Ranked among companies with meaningful Price/Median PS Value only.
HBNC' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.41  Med: 0.97 Max: 2.58
Current: 2.41
0.41
2.58
Price/Graham Number 1.56
HBNC's Price/Graham Number is ranked lower than
83% of the 1465 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.95 vs. HBNC: 1.56 )
Ranked among companies with meaningful Price/Graham Number only.
HBNC' s Price/Graham Number Range Over the Past 10 Years
Min: 0.34  Med: 0.93 Max: 1.6
Current: 1.56
0.34
1.6
Earnings Yield (Greenblatt) (%) 4.00
HBNC's Earnings Yield (Greenblatt) (%) is ranked lower than
61% of the 1696 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.70 vs. HBNC: 4.00 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
HBNC' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 2.2  Med: 3.7 Max: 7.2
Current: 4
2.2
7.2
Forward Rate of Return (Yacktman) (%) 2.34
HBNC's Forward Rate of Return (Yacktman) (%) is ranked lower than
75% of the 893 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.05 vs. HBNC: 2.34 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
HBNC' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: 2  Med: 21.4 Max: 40.3
Current: 2.34
2
40.3

More Statistics

Revenue (TTM) (Mil) $124.0
EPS (TTM) $ 1.09
Beta0.89
Short Percentage of Float0.73%
52-Week Range $15.18 - 28.63
Shares Outstanding (Mil)22.17

Analyst Estimate

Dec17 Dec18
Revenue (Mil $)
EPS ($) 1.74 1.90
EPS w/o NRI ($) 1.74 1.90
EPS Growth Rate
(3Y to 5Y Estimate)
N/A
Dividends Per Share ($) 0.48 0.50
» More Articles for HBNC

Headlines

Articles On GuruFocus.com
Top Insider Buys of the Week all from the Finance Sector Jun 20 2014 
Insider Buying Escalated in Regional Banking Companies Apr 30 2013 
For Ten Consecutive Years This Mega-Cap Co. Has Raised Its Dividend Double Digits, Now Yields 5% Oct 01 2012 
The Best Stocks With Dividend Growth From Last Week (March 19 - 25, 2012) Mar 25 2012 
Horizon Bancorp Reports Operating Results (10-K) Mar 11 2011 
Horizon Bancorp Reports Operating Results (10-Q) Nov 12 2010 
Horizon Bancorp Reports Operating Results (10-Q) May 13 2010 
Horizon Bancorp (HBNC) CFO Mark E Secor sells 1,450 Shares Feb 10 2010 
Horizon Bancorp Reports Operating Results (10-Q) Nov 12 2009 

More From Other Websites
HORIZON BANCORP /IN/ Files SEC form 8-K, Other Events, Financial Statements and Exhibits Feb 06 2017
Horizon Bank Consolidates Branch in Bargersville Indiana Feb 06 2017
ETFs with exposure to Horizon Bancorp (Indiana) : February 2, 2017 Feb 02 2017
Executives at U.S. Homebuilder Discard Shares Amid Resurgent Housing Market, Plus Other Noteworthy... Feb 02 2017
Horizon Bancorp (Indiana) :HBNC-US: Earnings Analysis: Q4, 2016 By the Numbers : February 1, 2017 Feb 01 2017
Horizon Bancorp (Indiana) :HBNC-US: Earnings Analysis: 2016 By the Numbers : January 31, 2017 Jan 31 2017
Horizon Bancorp (Indiana) breached its 50 day moving average in a Bearish Manner : HBNC-US : January... Jan 31 2017
Horizon Bancorp posts 4Q profit Jan 26 2017
Horizon Bancorp posts 4Q profit Jan 26 2017
HORIZON BANCORP /IN/ Files SEC form 8-K, Results of Operations and Financial Condition, Financial... Jan 25 2017
Horizon Bancorp Announces Record 2016 Net Income Jan 25 2017
4 Reasons to Buy Horizon Bancorp (HBNC) Stock Right Now Dec 30 2016
3 Reasons Why Horizon Bancorp (HBNC) is a Great Momentum Stock Dec 28 2016
Horizon Bancorp Announces a 10.0% Quarterly Dividend Increase Dec 22 2016
HORIZON BANCORP /IN/ Files SEC form 8-K, Other Events, Financial Statements and Exhibits Dec 22 2016
Horizon Bancorp Announces a 10.0% Quarterly Dividend Increase Dec 22 2016
Horizon Bancorp (HBNC): Strong Industry, Solid Earnings Estimate Revisions Dec 22 2016
Valley National's New "LIFT" Program to Improve Earnings Dec 20 2016
Community Bank to Acquire Northeast Retirement Services Dec 07 2016
Horizon Bancorp Announces Balance Sheet Restructuring Transaction Dec 01 2016

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