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

Shares of German American Bancorp, Inc. (NASDAQ:GABC) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $53.33.

A number of analysts have issued reports on GABC shares. Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. 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. Weiss Ratings upgraded shares of German American Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, September 17th. Piper Sandler restated an “overweight” rating and set a $60.00 price target (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th.

Institutional Trading of German American Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of German American Bancorp in the second quarter valued at approximately $142,155,000. German American Bancorp Inc. acquired a new stake in German American Bancorp during the 2nd quarter worth approximately $45,154,000. The Manufacturers Life Insurance Company purchased a new position in German American Bancorp in the 2nd quarter valued at approximately $14,364,000. Bank of New York Mellon Corp purchased a new position in German American Bancorp in the 2nd quarter valued at approximately $10,440,000. Finally, Bank of America Corp DE acquired a new position in shares of German American Bancorp in the second quarter worth $3,531,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

German American Bancorp Stock Up 0.8%

Shares of NASDAQ GABC opened at $49.50 on Monday. The stock has a market cap of $1.86 billion, a PE ratio of 13.06 and a beta of 0.58. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. German American Bancorp has a 12-month low of $37.19 and a 12-month high of $52.23. The company has a 50-day moving average of $49.80 and a 200 day moving average of $45.94.

German American Bancorp (NASDAQ:GABC) last issued its earnings results 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. The business had revenue of $99.95 million for the quarter, compared to analysts’ expectations of $99.22 million. German American Bancorp had a return on equity of 12.14% and a net margin of 28.25%. As a group, sell-side analysts predict that German American Bancorp will post 3.88 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, August 10th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.5%. German American Bancorp’s dividend payout ratio is currently 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 a range of banking and financial services to individuals, families, farmers, businesses and other organizations.

Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.

German American Bancorp traces its history to the founding of German American Bank in 1910.