German American Bancorp (NASDAQ:GABC) Given New $48.00 Price Target at Piper Sandler

German American Bancorp (NASDAQ:GABC) had its target price lowered by Piper Sandler from $49.00 to $48.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other analysts also recently commented on the company. Keefe, Bruyette & Woods boosted their target price on German American Bancorp from $43.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Finally, Stephens began coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, German American Bancorp has an average rating of “Hold” and an average target price of $46.40.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $41.71 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp has a one year low of $30.66 and a one year high of $47.08. The firm has a market capitalization of $1.24 billion, a P/E ratio of 15.06 and a beta of 0.65. The company’s fifty day moving average is $41.80 and its two-hundred day moving average is $40.60.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. Analysts forecast that German American Bancorp will post 2.76 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, February 10th. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.78%. German American Bancorp’s payout ratio is 41.13%.

Hedge Funds Weigh In On German American Bancorp

Several institutional investors and hedge funds have recently modified their holdings of GABC. German American Bancorp Inc. grew its holdings in German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after buying an additional 316,400 shares during the period. Franklin Resources Inc. grew its holdings in German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after purchasing an additional 196,003 shares during the period. Barclays PLC increased its position in German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock worth $2,684,000 after purchasing an additional 59,048 shares during the last quarter. State Street Corp increased its position in German American Bancorp by 6.9% during the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock worth $29,941,000 after purchasing an additional 50,206 shares during the last quarter. Finally, Royce & Associates LP raised its stake in German American Bancorp by 43.3% during the third quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock worth $5,160,000 after purchasing an additional 40,219 shares during the period. Hedge funds and other institutional investors 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.