German American Bancorp, Inc. (NASDAQ:GABC) Increases Dividend to $0.29 Per Share

German American Bancorp, Inc. (NASDAQ:GABC) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.29 per share by the bank on Thursday, February 20th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, February 10th. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27.

German American Bancorp has raised its dividend by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. German American Bancorp has a dividend payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect German American Bancorp to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 31.7%.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $40.33 on Friday. The stock’s 50-day simple moving average is $41.21 and its 200-day simple moving average is $40.68. The firm has a market capitalization of $1.20 billion, a PE ratio of 14.30 and a beta of 0.64. German American Bancorp has a fifty-two week low of $30.66 and a fifty-two week high of $47.08. 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 (NASDAQ:GABC) last posted its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. As a group, equities research analysts forecast that German American Bancorp will post 2.95 EPS for the current fiscal year.

Analyst Ratings Changes

GABC has been the topic of several recent analyst reports. Stephens assumed coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target for the company. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $48.00 in a research note on Wednesday, October 30th. Piper Sandler lowered their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, German American Bancorp has a consensus rating of “Hold” and an average price target of $46.40.

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.