German American Bancorp, Inc. (NASDAQ:GABC) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of German American Bancorp, Inc. (NASDAQ:GABC) have received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $53.33.

A number of research firms have recently commented on GABC. Wall Street Zen upgraded German American Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings upgraded German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their price objective on German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial started coverage on German American Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On German American Bancorp

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in shares of German American Bancorp during the second quarter worth $1,465,000. Glenview Trust Co purchased a new position in shares of German American Bancorp in the second quarter valued at $1,793,000. Bank of New York Mellon Corp acquired a new stake in German American Bancorp during the 2nd quarter valued at $10,440,000. The Manufacturers Life Insurance Company acquired a new stake in German American Bancorp during the 2nd quarter valued at $14,364,000. Finally, Dimensional Fund Advisors LP grew its holdings in German American Bancorp by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank’s stock valued at $50,982,000 after purchasing an additional 31,627 shares in the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Up 1.5%

GABC opened at $50.36 on Friday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 13.29 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. German American Bancorp has a one year low of $37.73 and a one year high of $52.23. The business’s fifty day moving average is $49.52 and its two-hundred day moving average is $46.98.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, July 27th. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. The business had revenue of $99.95 million for the quarter, compared to analyst estimates of $99.22 million. Analysts anticipate that German American Bancorp will post 3.92 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 10th. German American Bancorp’s dividend payout ratio is 32.72%.

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.