German American Bancorp (NASDAQ:GABC) Upgraded by Hovde Group to Outperform Rating

Hovde Group upgraded shares of German American Bancorp (NASDAQ:GABC) from a market perform rating to an outperform rating in a research note published on Wednesday morning, MarketBeat Ratings reports. They currently have $48.00 target price on the bank’s stock, up from their previous target price of $41.00.

Several other analysts have also recently issued reports on the company. Raymond James increased their price objective on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Stephens initiated coverage on German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler raised their target price on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.25.

German American Bancorp Stock Performance

NASDAQ GABC opened at $41.27 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.22 billion, a P/E ratio of 14.48 and a beta of 0.61. The stock has a 50-day moving average of $39.32 and a two-hundred day moving average of $36.31. German American Bancorp has a 1-year low of $24.85 and a 1-year high of $42.78.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. As a group, analysts anticipate that German American Bancorp will post 2.7 EPS for the current year.

German American Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.62%. German American Bancorp’s dividend payout ratio is currently 37.89%.

Insider Activity

In other German American Bancorp news, Director Thomas W. Seger bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the purchase, the director now directly owns 484,342 shares in the company, valued at $17,823,785.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Thomas W. Seger purchased 3,000 shares of German American Bancorp stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $36.80 per share, with a total value of $110,400.00. Following the completion of the transaction, the director now directly owns 484,342 shares in the company, valued at approximately $17,823,785.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diane B. Medley acquired 710 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $36.37 per share, with a total value of $25,822.70. Following the purchase, the director now directly owns 4,370 shares of the company’s stock, valued at $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,732 shares of company stock worth $137,119. 6.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rosenthal Henry Capital Advisors Inc. grew its position in shares of German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock worth $2,419,000 after acquiring an additional 1,290 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in German American Bancorp during the 3rd quarter worth $346,000. Mirae Asset Global Investments Co. Ltd. grew its position in German American Bancorp by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,090 shares of the bank’s stock worth $692,000 after purchasing an additional 1,986 shares during the last quarter. Creative Planning increased its stake in German American Bancorp by 42.2% in the third quarter. Creative Planning now owns 16,321 shares of the bank’s stock valued at $632,000 after purchasing an additional 4,840 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in shares of German American Bancorp by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after buying an additional 1,097 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

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.