German American Bancorp (NASDAQ:GABC) Hits New 1-Year High – What’s Next?

German American Bancorp, Inc. (NASDAQ:GABC)’s share price reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $52.39 and last traded at $51.7570, with a volume of 12,877 shares trading hands. The stock had previously closed at $50.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of German American Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings cut German American Bancorp from a “buy (a)” rating to a “buy (a-)” rating in a research report on Wednesday. Zacks Research raised shares of German American Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $53.33.

German American Bancorp Stock Down 0.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $1.88 billion, a PE ratio of 12.91 and a beta of 0.62. The company has a fifty day moving average of $49.47 and a two-hundred day moving average of $45.91.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 26th. The bank reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $103.68 million for the quarter, compared to analyst estimates of $102.65 million. As a group, analysts anticipate that German American Bancorp, Inc. will post 3.95 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.24 annualized dividend and a dividend yield of 2.5%. German American Bancorp’s payout ratio is currently 31.96%.

Institutional Trading of German American Bancorp

Several institutional investors have recently made changes to their positions in GABC. USA Financial Formulas acquired a new position in shares of German American Bancorp during the third quarter worth about $40,000. Parallel Advisors LLC lifted its holdings in German American Bancorp by 220.7% during the 1st quarter. Parallel Advisors LLC now owns 1,347 shares of the bank’s stock worth $56,000 after purchasing an additional 927 shares in the last quarter. Allworth Financial LP purchased a new position in German American Bancorp in the 2nd quarter worth $133,000. Field & Main Bank bought a new position in German American Bancorp in the second quarter worth $142,000. Finally, Quantbot Technologies LP bought a new position in shares of German American Bancorp during the 2nd quarter valued at $143,000. 46.90% of the stock is currently owned by institutional investors and hedge funds.

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.