German American Bancorp (NASDAQ:GABC) Announces Earnings Results, Beats Expectations By $0.07 EPS

German American Bancorp (NASDAQ:GABC) issued its earnings results on Monday. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07, Zacks reports. The company had revenue of $81.41 million for the quarter, compared to analyst estimates of $79.60 million. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%.

German American Bancorp Stock Performance

GABC opened at $37.08 on Tuesday. The stock’s 50 day simple moving average is $37.40 and its 200-day simple moving average is $40.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.39 billion, a PE ratio of 13.15 and a beta of 0.61. German American Bancorp has a 1 year low of $31.06 and a 1 year high of $47.08.

Wall Street Analysts Forecast Growth

GABC has been the subject of a number of analyst reports. Piper Sandler reduced their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their target price 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, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.40.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley bought 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the purchase, the director now directly owns 5,370 shares in the company, valued at $210,557.70. The trade was a 22.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 1,090 shares of company stock worth $42,697 over the last 90 days. Corporate insiders own 6.16% of the company’s stock.

German American Bancorp Company Profile

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.