German American Bancorp, Inc. (NASDAQ:GABC – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.00 and last traded at $49.0950, with a volume of 39574 shares changing hands. The stock had previously closed at $47.83.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on GABC shares. Stephens upped their price target on German American Bancorp from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler raised shares of German American Bancorp from a “neutral” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Friday, March 20th. Raymond James Financial assumed coverage on shares of German American Bancorp in a research note on Wednesday, July 8th. They set a “hold” rating for the company. Wall Street Zen downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Keefe, Bruyette & Woods raised their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.
Get Our Latest Research Report on German American Bancorp
German American Bancorp Stock Performance
German American Bancorp (NASDAQ:GABC – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The bank reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.02). German American Bancorp had a return on equity of 11.98% and a net margin of 27.09%.The business had revenue of $97.43 million for the quarter, compared to the consensus estimate of $95.84 million. Research analysts anticipate that German American Bancorp, Inc. will post 3.73 EPS for the current fiscal year.
German American Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Sunday, May 10th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.5%. German American Bancorp’s dividend payout ratio is presently 34.35%.
Hedge Funds Weigh In On German American Bancorp
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of German American Bancorp by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 2,281,704 shares of the bank’s stock worth $89,397,000 after acquiring an additional 90,203 shares in the last quarter. Franklin Resources Inc. raised its holdings in German American Bancorp by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,847,234 shares of the bank’s stock worth $72,541,000 after purchasing an additional 64,338 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in German American Bancorp by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,414,363 shares of the bank’s stock valued at $55,415,000 after buying an additional 23,644 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of German American Bancorp by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank’s stock worth $50,982,000 after purchasing an additional 31,627 shares during the last quarter. Finally, German American Bancorp Inc. grew its position in shares of German American Bancorp by 1.3% during the 1st quarter. German American Bancorp Inc. now owns 966,872 shares of the bank’s stock worth $40,406,000 after buying an additional 12,585 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.
About German American Bancorp
German American Bancorp, Inc operates as a bank holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, it delivers a range of community banking services tailored to individuals, small-to-medium enterprises and agricultural clients. The company’s core offerings include traditional deposit accounts—such as checking, savings and certificates of deposit—alongside residential mortgage and home equity lending products.
On the commercial side, German American Bancorp provides a variety of financing solutions, including term loans, lines of credit and commercial real estate financing.
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