Horizon Bancorp (HBNC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Horizon Bancorp reported revenue of $24.17 million for Q4 2024, a year-over-year increase of 10.8%, but fell short of the Zacks Consensus Estimate of $61.53 million, resulting in a surprise of -60.72% [1] - The company's EPS for the quarter was $0.36, compared to $0.33 a year ago, but also missed the consensus estimate of $0.39, leading to an EPS surprise of -7.69% [1] Financial Performance Metrics - Efficiency Ratio was reported at 185.9%, significantly higher than the average estimate of 67.7% from three analysts [4] - Net Interest Margin stood at 3%, exceeding the average estimate of 2.8% from three analysts [4] - Annualized net charge-offs of average total loans were 0.1%, matching the average estimate from two analysts [4] - Average Balance of Total Interest Earning Assets was $7.40 billion, slightly below the average estimate of $7.42 billion from two analysts [4] - Gain on sale of mortgage loans was $1.07 million, lower than the estimated $1.16 million from three analysts [4] - Total non-interest income was reported at -$28.95 million, significantly below the average estimate of $11.02 million from three analysts [4] - Net Interest Income was $53.13 million, surpassing the average estimate of $50.48 million from three analysts [4] - Wire transfer fees were $0.12 million, slightly above the average estimate of $0.11 million from two analysts [4] - Mortgage servicing income net of impairment was $0.38 million, compared to the average estimate of $0.42 million from two analysts [4] - Service charges on deposit accounts were $3.28 million, slightly below the average estimate of $3.37 million from two analysts [4] - Other income was reported at $0.34 million, lower than the average estimate of $0.54 million from two analysts [4] - Fiduciary activities generated $1.31 million, compared to the average estimate of $1.50 million from two analysts [4] Stock Performance - Horizon Bancorp shares returned -2.5% over the past month, contrasting with the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]