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Horizon Bancorp (IN) (Horizon Bancorp (IN)) Cyclically Adjusted PB Ratio : 0.83 (As of May. 22, 2024)


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What is Horizon Bancorp (IN) Cyclically Adjusted PB Ratio?

As of today (2024-05-22), Horizon Bancorp (IN)'s current share price is $12.70. Horizon Bancorp (IN)'s Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was $15.37. Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio for today is 0.83.

The historical rank and industry rank for Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio or its related term are showing as below:

HBNC' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.56   Med: 1.72   Max: 2.65
Current: 0.83

During the past years, Horizon Bancorp (IN)'s highest Cyclically Adjusted PB Ratio was 2.65. The lowest was 0.56. And the median was 1.72.

HBNC's Cyclically Adjusted PB Ratio is ranked better than
58.87% of 1189 companies
in the Banks industry
Industry Median: 0.93 vs HBNC: 0.83

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Horizon Bancorp (IN)'s adjusted book value per share data for the three months ended in Mar. 2024 was $16.349. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $15.37 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Horizon Bancorp (IN) Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Horizon Bancorp (IN) Cyclically Adjusted PB Ratio Chart

Horizon Bancorp (IN) Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.93 1.46 1.67 1.08 0.96

Horizon Bancorp (IN) Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.77 0.71 0.72 0.96 0.83

Competitive Comparison of Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio

For the Banks - Regional subindustry, Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio falls into.



Horizon Bancorp (IN) Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=12.70/15.37
=0.83

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Horizon Bancorp (IN)'s Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Horizon Bancorp (IN)'s adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book=Book Value per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=16.349/131.7762*131.7762
=16.349

Current CPI (Mar. 2024) = 131.7762.

Horizon Bancorp (IN) Quarterly Data

Book Value per Share CPI Adj_Book
201406 8.445 100.560 11.067
201409 8.554 100.428 11.224
201412 8.776 99.070 11.673
201503 9.002 99.621 11.908
201506 9.105 100.684 11.917
201509 9.395 100.392 12.332
201512 9.467 99.792 12.501
201603 9.696 100.470 12.717
201606 9.934 101.688 12.873
201609 10.409 101.861 13.466
201612 10.249 101.863 13.259
201703 10.479 102.862 13.425
201706 10.740 103.349 13.694
201709 11.205 104.136 14.179
201712 11.936 104.011 15.122
201803 12.011 105.290 15.032
201806 12.265 106.317 15.202
201809 12.448 106.507 15.401
201812 12.821 105.998 15.939
201903 13.528 107.251 16.622
201906 13.902 108.070 16.952
201909 14.292 108.329 17.385
201912 14.586 108.420 17.728
202003 14.415 108.902 17.443
202006 14.883 108.767 18.031
202009 15.278 109.815 18.333
202012 15.775 109.897 18.916
202103 15.686 111.754 18.496
202106 16.163 114.631 18.580
202109 16.281 115.734 18.538
202112 16.607 117.630 18.604
202203 15.548 121.301 16.891
202206 15.098 125.017 15.914
202209 14.681 125.227 15.449
202212 15.417 125.222 16.224
202303 15.952 127.348 16.507
202306 16.078 128.729 16.459
202309 15.717 129.860 15.949
202312 16.297 129.419 16.594
202403 16.349 131.776 16.349

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Horizon Bancorp (IN)  (NAS:HBNC) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Horizon Bancorp (IN) Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Horizon Bancorp (IN)'s Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Horizon Bancorp (IN) (Horizon Bancorp (IN)) Business Description

Traded in Other Exchanges
N/A
Address
515 Franklin Street, Michigan City, IN, USA, 46360
Horizon Bancorp (IN) is a United States-based holding company providing banking services. It is engaged in providing commercial and retail banking services, corporate and individual trust and agency services, and other services incident to banking. The company also provides commercial loans, real estate loans, mortgage warehouse loans, consumer loans, and other credit facilities. In addition, the company provides advances, loans, term loans, overdrafts for various business purposes such as business expansion, purchasing machinery and equipment, business mortgaged and others. The company has one principal business segment, commercial banking. Revenue generated by the company mainly consists of dividends received.
Executives
Susan D Aaron director 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Todd A. Etzler officer: Executive Vice President & GC 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Vanessa Peterson Williams director 999 WEST BIG BEAVER ROAD, TROY MI 48084-4716
Craig M Dwight officer: Chief Executive Officer 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Thomas M Prame officer: President 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Noe S Najera officer: EVP, Sr. Retail & Mort Lending 515 FRANKLIN ST, MICHIGAN CITY IN 46360
Julie Scheck Freigang director 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Michele M. Magnuson director 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
James D Neff officer: President 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Kathie A Deruiter officer: Executive Vice President 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Lynn Kerber officer: EVP & SCCO 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Dennis Kuhn officer: Executive Vice President 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Steven William Reed director 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Peter L Pairitz director 515 FRANKLIN STREET, MICHIGAN CITY IN 46360
Eric P. Blackhurst director 515 FRANKLIN STREET, MICHIGAN CITY IN 46360

Horizon Bancorp (IN) (Horizon Bancorp (IN)) Headlines

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