German American Bancorp (NASDAQ:GABC) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

German American Bancorp, Inc. (NASDAQ:GABC) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $49.42 and traded as high as $50.49. German American Bancorp shares last traded at $50.23, with a volume of 154,831 shares trading hands.

Analyst Ratings Changes

GABC has been the topic of a number of research reports. Wall Street Zen upgraded shares of German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $60.00 price target (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. Raymond James Financial assumed coverage on shares of German American Bancorp in a research report on Wednesday, July 8th. They issued a “hold” rating for the company. Weiss Ratings upgraded shares of German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

German American Bancorp Trading Up 2.6%

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average price is $49.42 and its 200-day moving average price is $45.71. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.95 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, October 26th. The bank reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The firm had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $102.65 million. German American Bancorp had a net margin of 28.78% and a return on equity of 12.33%. Equities analysts forecast that German American Bancorp, Inc. will post 3.94 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, November 10th. German American Bancorp’s payout ratio is currently 31.96%.

Hedge Funds Weigh In On German American Bancorp

A number of large investors have recently modified their holdings of the business. Kestra Advisory Services LLC raised its stake in shares of German American Bancorp by 38.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 18,952 shares of the bank’s stock worth $916,000 after buying an additional 5,277 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of German American Bancorp in the third quarter valued at approximately $1,732,000. USA Financial Formulas purchased a new stake in shares of German American Bancorp in the third quarter valued at approximately $40,000. Sequoia Financial Advisors LLC purchased a new stake in shares of German American Bancorp in the second quarter valued at approximately $593,000. Finally, Tidal Investments LLC purchased a new stake in shares of German American Bancorp in the second quarter valued at approximately $624,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides banking, wealth management, and insurance services to individuals, families, farmers, and businesses.

German American Bank offers deposit accounts, residential and commercial real estate loans, agricultural financing, commercial loans, consumer loans, mortgage services, and other traditional banking products. Its wealth management operations provide trust administration, investment management, financial planning, and related services, while its insurance business offers personal and commercial insurance products.

Founded in 1910, German American Bancorp has built a community banking franchise serving southern Indiana and neighboring communities in Kentucky and Ohio.