German American Bancorp (NASDAQ:GABC) Price Target Raised to $47.00

German American Bancorp (NASDAQ:GABC) had its price target lifted by Keefe, Bruyette & Woods from $46.00 to $47.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other research analysts have also issued reports on GABC. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Piper Sandler reduced their price objective 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. Finally, Stephens initiated coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.40.

German American Bancorp Trading Down 0.3 %

Shares of GABC opened at $41.33 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. German American Bancorp has a 1-year low of $30.66 and a 1-year high of $47.08. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.66 and a beta of 0.65. The firm has a 50 day simple moving average of $41.64 and a 200-day simple moving average of $40.63.

German American Bancorp (NASDAQ:GABC) last released its quarterly 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 return on equity of 12.04% and a net margin of 23.69%. Equities analysts forecast that German American Bancorp will post 2.67 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently disclosed 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. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, February 10th. German American Bancorp’s dividend payout ratio is presently 38.30%.

Hedge Funds Weigh In On German American Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of GABC. Franklin Resources Inc. grew its stake in shares of German American Bancorp by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after buying an additional 196,003 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock valued at $36,988,000 after acquiring an additional 32,816 shares during the last quarter. State Street Corp grew 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 valued at $29,941,000 after acquiring an additional 50,206 shares during the period. Geode Capital Management LLC increased its stake in German American Bancorp by 1.6% during the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock worth $27,289,000 after acquiring an additional 11,386 shares during the last quarter. Finally, German American Bancorp Inc. raised its holdings in shares of German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after purchasing an additional 316,400 shares during the period. Institutional investors and hedge funds 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.