Stephens Initiates Coverage on German American Bancorp (NASDAQ:GABC)

Stephens started coverage on shares of German American Bancorp (NASDAQ:GABC) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $45.00 price objective on the bank’s stock.

Several other analysts also recently issued reports on the stock. StockNews.com downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler upped their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James upped their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.75.

German American Bancorp Stock Down 1.5 %

GABC stock opened at $40.53 on Tuesday. The company has a market cap of $1.20 billion, a P/E ratio of 14.22 and a beta of 0.61. German American Bancorp has a 52 week low of $24.85 and a 52 week high of $42.78. The company’s 50-day moving average price is $38.98 and its 200 day moving average price is $35.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The firm had revenue of $64.89 million for the quarter, compared to the consensus estimate of $60.20 million. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. On average, research analysts expect that German American Bancorp will post 2.7 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, August 9th. German American Bancorp’s payout ratio is 37.89%.

Insider Activity at German American Bancorp

In related news, Director Thomas W. Seger purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $36.80 per share, with a total value of $110,400.00. Following the completion of the transaction, the director now owns 484,342 shares of the company’s stock, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thomas W. Seger purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $36.80 per share, with a total value of $110,400.00. Following the completion of the transaction, the director now owns 484,342 shares of the company’s stock, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane B. Medley acquired 710 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $36.37 per share, with a total value of $25,822.70. Following the transaction, the director now directly owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,732 shares of company stock valued at $137,119. Company insiders own 6.16% of the company’s stock.

Institutional Investors Weigh In On German American Bancorp

Several large investors have recently made changes to their positions in GABC. EntryPoint Capital LLC increased its position in shares of German American Bancorp by 186.2% in the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after acquiring an additional 1,339 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of German American Bancorp in the second quarter valued at $207,000. SG Americas Securities LLC purchased a new position in shares of German American Bancorp in the third quarter valued at $247,000. Virtu Financial LLC purchased a new position in shares of German American Bancorp in the fourth quarter valued at $251,000. Finally, LSV Asset Management boosted its stake in shares of German American Bancorp by 96.4% in the first quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock valued at $252,000 after purchasing an additional 3,565 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

About German American Bancorp

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.