German American Bancorp (NASDAQ:GABC) Stock Rating Upgraded by Zacks Research

German American Bancorp (NASDAQ:GABC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities analysts also recently commented on GABC. Weiss Ratings upgraded shares of German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Wall Street Zen raised shares of German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Raymond James Financial started coverage on shares of German American Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. Piper Sandler restated an “overweight” rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $53.33.

German American Bancorp Stock Down 1.3%

NASDAQ GABC opened at $49.60 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.14. German American Bancorp has a 52 week low of $37.73 and a 52 week high of $52.23. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.78 and a beta of 0.62. The company has a fifty day moving average of $49.42 and a two-hundred day moving average of $45.76.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 26th. The bank reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.02. The business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $102.65 million. German American Bancorp had a net margin of 28.78% and a return on equity of 12.33%. On average, analysts predict that German American Bancorp will post 3.95 earnings per share for the current year.

Institutional Trading of German American Bancorp

A number of large investors have recently made changes to their positions in GABC. USA Financial Formulas bought a new stake in shares of German American Bancorp during the third quarter valued at approximately $40,000. Parallel Advisors LLC raised its position in German American Bancorp by 220.7% during the 1st quarter. Parallel Advisors LLC now owns 1,347 shares of the bank’s stock valued at $56,000 after purchasing an additional 927 shares in the last quarter. Allworth Financial LP bought a new stake in German American Bancorp during the 2nd quarter valued at $133,000. Field & Main Bank purchased a new stake in shares of German American Bancorp in the 2nd quarter worth $142,000. Finally, Quantbot Technologies LP purchased a new stake in shares of German American Bancorp in the 2nd quarter worth $143,000. 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.