Raymond James Boosts German American Bancorp (NASDAQ:GABC) Price Target to $44.00

German American Bancorp (NASDAQ:GABC) had its target price raised by Raymond James from $40.00 to $44.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of German American Bancorp from a hold rating to a sell rating in a report on Tuesday, July 30th. Hovde Group increased their target price on shares of German American Bancorp from $33.00 to $34.00 and gave the company a market perform rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, German American Bancorp currently has an average rating of Hold and a consensus target price of $40.67.

German American Bancorp Price Performance

Shares of NASDAQ:GABC opened at $37.54 on Wednesday. The company’s fifty day moving average price is $35.21 and its 200-day moving average price is $33.50. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.17 and a beta of 0.62. German American Bancorp has a one year low of $24.85 and a one year high of $42.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.79 and a quick ratio of 0.79.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Saturday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, August 9th. German American Bancorp’s dividend payout ratio is currently 37.89%.

Hedge Funds Weigh In On German American Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in GABC. EntryPoint Capital LLC boosted its position in German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after buying an additional 1,339 shares during the period. LSV Asset Management purchased a new stake in German American Bancorp during the 4th quarter valued at $120,000. SG Americas Securities LLC purchased a new stake in German American Bancorp during the 4th quarter valued at $142,000. Virtu Financial LLC purchased a new stake in German American Bancorp during the 4th quarter valued at $251,000. Finally, Pettinga Financial Advisors LLC boosted its position in German American Bancorp by 6.5% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after buying an additional 443 shares during the period. Institutional investors 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.