Zacks Research Upgrades German American Bancorp (NASDAQ:GABC) to “Strong-Buy”

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

Several other analysts have also recently weighed in on GABC. Raymond James Financial began coverage on shares of German American Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Piper Sandler reissued an “overweight” rating and issued a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. 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. Keefe, Bruyette & Woods lifted 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. Finally, Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, German American Bancorp has a consensus rating of “Buy” and a consensus price target of $53.33.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $49.60 on Monday. The stock’s 50-day moving average is $49.42 and its two-hundred day moving average is $45.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. German American Bancorp has a 1-year low of $37.73 and a 1-year high of $52.23. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 12.78 and a beta of 0.62.

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

Hedge Funds Weigh In On German American Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC lifted its position 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of German American Bancorp in the 3rd quarter valued at $1,732,000. USA Financial Formulas purchased a new position in shares of German American Bancorp in the 3rd quarter valued at $40,000. Sequoia Financial Advisors LLC purchased a new position in shares of German American Bancorp in the 2nd quarter valued at $593,000. Finally, Tidal Investments LLC acquired a new stake in German American Bancorp during the 2nd quarter worth $624,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

German American Bancorp Company Profile

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.