Horizon Bancorp (IN) (HBNC) vs Southside Bancshares, Inc. (SBSI)

Horizon Bancorp (IN) and Southside Bancshares, Inc. are both Banks Regional companies. Horizon Bancorp (IN) and Southside Bancshares, Inc. are of similar size ($1.1B and $1.0B). Horizon Bancorp (IN) has negative trailing earnings, so its P/E is not meaningful; Southside Bancshares, Inc. trades at 10.4×. Southside Bancshares, Inc. grew revenue faster over the last twelve months: 8.51% against −74.2%. Southside Bancshares, Inc. has the higher net margin (21.5% vs −149.0%) and the higher return on invested capital (5.12% vs −17.9%). Both pay a dividend; Southside Bancshares, Inc. yields more (4.21% vs 3.06%). Across the 18 metrics below, Southside Bancshares, Inc. leads on 14 and Horizon Bancorp (IN) on 4.

Valuation

Metric HBNC SBSI Banks Regional median
P/E n/m 10.38 12.02
P/S 11.04 2.23 2.36
P/B 1.47 1.22 1.23
Price to free cash flow 11.34 6.62 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (15.13%) 9.63% 8.21%
Free cash flow yield 8.82% 15.10% 9.23%

Profitability

Metric HBNC SBSI Banks Regional median
Gross margin (13.47%) 60.37% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin (148.95%) 21.47% 18.82%
Free cash flow margin 97.31% 33.63% 17.97%
Return on equity (18.98%) 11.80% 10.28%
Return on assets (2.02%) 1.15% 1.13%
Return on invested capital (17.93%) 5.12% 8.45%

Growth

Metric HBNC SBSI Banks Regional median
Revenue growth (TTM) (74.21%) 8.51% 6.37%
EPS growth (last fiscal year) (493.75%) (21.31%) 18.85%
Revenue growth, 5-year CAGR (16.35%) 8.28% 12.65%
Net income growth, 5-year CAGR 0.00% (3.38%) 9.81%

Health

Metric HBNC SBSI Banks Regional median
Debt to equity 0.22 1.31 0.17
Current ratio 0.92 0.79 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric HBNC SBSI Banks Regional median
Dividend yield 3.06% 4.21% 2.49%
Payout ratio — 0.44 0.29

Size

Metric HBNC SBSI Banks Regional median
Market cap 1.07b 1.02b 934.85m

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