German American Bancorp (NASDAQ:GABC) Issues Earnings Results, Beats Expectations By $0.02 EPS

German American Bancorp (NASDAQ:GABC) released its earnings results on Monday. The bank reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02, FiscalAI reports. The business had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $102.65 million.

German American Bancorp Price Performance

Shares of German American Bancorp stock traded down $1.77 during mid-day trading on Wednesday, hitting $49.34. 5,176 shares of the stock were exchanged, compared to its average volume of 151,007. German American Bancorp has a twelve month low of $37.73 and a twelve month high of $52.23. The company has a 50-day simple moving average of $49.48 and a 200 day simple moving average of $45.52.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, November 10th.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GABC shares. Raymond James Financial began coverage on shares of German American Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued 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 raised their target price on shares of German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.33.

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.