German American Bancorp, Inc. (NASDAQ:GABC) Receives $46.40 Average PT from Brokerages

German American Bancorp, Inc. (NASDAQ:GABC) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $46.40.

Several research firms have recently commented on GABC. Piper Sandler lowered their price objective 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 lifted their target price on German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th.

Insider Buying and Selling

In related news, Director Diane B. Medley purchased 1,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the transaction, the director now directly owns 5,370 shares of the company’s stock, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 1,086 shares of company stock worth $42,621. Insiders own 6.16% of the company’s stock.

Hedge Funds Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GABC. German American Bancorp Inc. increased its stake in shares of German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after acquiring an additional 316,400 shares during the last quarter. Franklin Resources Inc. increased its position in German American Bancorp by 13.0% during the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock worth $67,557,000 after purchasing an additional 196,003 shares during the last quarter. Royce & Associates LP increased its position in German American Bancorp by 138.2% during the fourth quarter. Royce & Associates LP now owns 317,221 shares of the bank’s stock worth $12,759,000 after purchasing an additional 184,065 shares during the last quarter. First Trust Advisors LP raised its stake in German American Bancorp by 437.1% during the fourth quarter. First Trust Advisors LP now owns 96,438 shares of the bank’s stock worth $3,879,000 after purchasing an additional 78,482 shares during the period. Finally, Barclays PLC boosted its holdings in German American Bancorp by 577.6% in the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank’s stock valued at $2,684,000 after purchasing an additional 59,048 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Price Performance

NASDAQ GABC opened at $38.83 on Friday. The firm’s fifty day simple moving average is $39.63 and its two-hundred day simple moving average is $40.80. The firm has a market capitalization of $1.45 billion, a P/E ratio of 13.77 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp has a 12-month low of $31.06 and a 12-month high of $47.08.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. Analysts forecast that German American Bancorp will post 3.06 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.29 per share. The ex-dividend date was Monday, February 10th. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 2.99%. German American Bancorp’s dividend payout ratio is currently 41.13%.

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.