During the most recent reporting period, Horizon Bancorp generated $405.46 million in gross revenue and delivered net income of $35.43 million. The company’s earnings per share stood at negative $3.93, reflecting one-time charges in the quarter, and its price-to-sales ratio is 2.35. The price-to-earnings ratio is negative 4.74, driven by the EPS shortfall, but excluding nonrecurring items the underlying operation remains profitable.

Horizon Bancorp pays an annual dividend of $0.64 per share, translating into a yield of 3.4%. The dividend payout ratio was negative 16.3% in the latest period, as the company incurred accounting adjustments that depressed reported earnings. Excluding those adjustments, management’s stated intention is to maintain stable quarterly distributions supported by core earnings and strong loan-deposit growth.

With a beta of 0.82, Horizon Bancorp’s share price has been 18% less volatile than the broader market over the past three years. This lower beta reflects the company’s diversified loan portfolio across commercial, residential real estate and consumer segments in Indiana and Michigan, as well as its conservative capital ratios, which remain above regulatory minimums.

Institutional investors hold 64.5% of the company’s shares, a sign of confidence from endowments and asset managers, while insiders retain 2.8%. According to recent broker reports, the stock has received one sell, two hold and two buy recommendations, with an average rating score of 2.20. Analysts’ consensus price target of $19.67 implies a potential upside of 5.56% from current levels.