Shares of German American Bancorp, Inc. (NASDAQ:GABC – Get Free Report) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $46.10 and traded as high as $49.72. German American Bancorp shares last traded at $48.82, with a volume of 127,246 shares trading hands.
Analyst Ratings Changes
A number of research firms have recently commented on GABC. Wall Street Zen upgraded shares of German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods lifted their target price on German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded German American Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, September 17th. Piper Sandler reiterated an “overweight” rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Finally, Raymond James Financial started coverage on German American Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.
Read Our Latest Report on German American Bancorp
German American Bancorp Price Performance
German American Bancorp (NASDAQ:GABC – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The firm had revenue of $99.95 million during the quarter, compared to analysts’ expectations of $99.22 million. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. As a group, sell-side analysts expect that German American Bancorp, Inc. will post 3.88 EPS for the current fiscal year.
German American Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 10th. German American Bancorp’s dividend payout ratio (DPR) is 32.72%.
Hedge Funds Weigh In On German American Bancorp
A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in German American Bancorp by 220.7% in the first quarter. Parallel Advisors LLC now owns 1,347 shares of the bank’s stock valued at $56,000 after buying an additional 927 shares during the period. Allworth Financial LP bought a new position in shares of German American Bancorp during the 2nd quarter worth approximately $133,000. Field & Main Bank bought a new position in shares of German American Bancorp during the 2nd quarter worth approximately $142,000. Quantbot Technologies LP acquired a new position in shares of German American Bancorp during the 2nd quarter worth approximately $143,000. Finally, Ancora Advisors LLC acquired a new position in shares of German American Bancorp during the 2nd quarter worth approximately $235,000. Institutional investors and hedge funds own 46.90% of the company’s stock.
German American Bancorp Company Profile
German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides a range of banking and financial services to individuals, families, farmers, businesses and other organizations.
Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.
German American Bancorp traces its history to the founding of German American Bank in 1910.
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