German American Bancorp (NASDAQ:GABC) Given New $44.00 Price Target at Piper Sandler

German American Bancorp (NASDAQ:GABC) had its price objective raised by Piper Sandler from $34.00 to $44.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

GABC has been the subject of several other reports. Hovde Group increased their price objective on German American Bancorp from $33.00 to $34.00 and gave the stock a market perform rating in a research note on Friday, May 31st. StockNews.com downgraded German American Bancorp from a hold rating to a sell rating in a research note on Tuesday. Finally, Raymond James increased their price objective on German American Bancorp from $40.00 to $44.00 and gave the stock an outperform rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, German American Bancorp currently has a consensus rating of Hold and a consensus target price of $40.67.

German American Bancorp Stock Down 0.3 %

NASDAQ:GABC traded down $0.13 on Thursday, hitting $37.54. The stock had a trading volume of 135,513 shares, compared to its average volume of 114,364. The business’s fifty day moving average is $35.11 and its 200 day moving average is $33.43. The company has a market cap of $1.11 billion, a PE ratio of 13.22 and a beta of 0.62. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. German American Bancorp has a 52 week low of $24.85 and a 52 week high of $42.78.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $84.08 million during the quarter, compared to the consensus estimate of $61.05 million. German American Bancorp had a return on equity of 13.33% and a net margin of 24.44%. On average, equities research analysts expect that German American Bancorp will post 2.5 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Saturday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, August 9th. German American Bancorp’s payout ratio is 37.89%.

Institutional Trading of German American Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC increased its position in shares of German American Bancorp by 186.2% during the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after acquiring an additional 1,339 shares during the last quarter. LSV Asset Management purchased a new stake in German American Bancorp in the fourth quarter worth $120,000. SG Americas Securities LLC purchased a new stake in German American Bancorp in the fourth quarter worth $142,000. Virtu Financial LLC purchased a new stake in German American Bancorp in the fourth quarter worth $251,000. Finally, Pettinga Financial Advisors LLC increased its position in German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after buying an additional 443 shares during the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

About German American Bancorp

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.