Stephens Initiates Coverage on German American Bancorp (NASDAQ:GABC)

Stephens initiated coverage on shares of German American Bancorp (NASDAQ:GABC) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $45.00 target price on the bank’s stock.

Other equities research analysts have also issued reports about the stock. Piper Sandler increased their target price on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Raymond James increased their target price on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.75.

German American Bancorp Stock Performance

Shares of GABC stock opened at $40.53 on Tuesday. The firm’s 50 day moving average price is $38.98 and its 200-day moving average price is $35.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83. German American Bancorp has a one year low of $24.85 and a one year high of $42.78. The firm has a market cap of $1.20 billion, a P/E ratio of 14.22 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, July 29th. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.61 by $0.08. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The firm had revenue of $64.89 million for the quarter, compared to analyst estimates of $60.20 million. As a group, equities research analysts predict that German American Bancorp will post 2.7 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Saturday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 9th. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. German American Bancorp’s dividend payout ratio (DPR) is currently 37.89%.

Insider Transactions at German American Bancorp

In other news, Director Thomas W. Seger acquired 3,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $36.80 per share, with a total value of $110,400.00. Following the transaction, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas W. Seger purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now directly owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane B. Medley purchased 710 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the purchase, the director now directly owns 4,370 shares in the company, valued at $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,732 shares of company stock valued at $137,119. Insiders own 6.16% of the company’s stock.

Institutional Investors Weigh In On German American Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC increased its stake in German American Bancorp by 186.2% in the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after purchasing an additional 1,339 shares during the period. Renaissance Technologies LLC acquired a new position in German American Bancorp in the second quarter valued at $207,000. SG Americas Securities LLC acquired a new position in German American Bancorp in the third quarter valued at $247,000. LSV Asset Management increased its stake in German American Bancorp by 96.4% in the first quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock valued at $252,000 after purchasing an additional 3,565 shares during the period. Finally, Pettinga Financial Advisors LLC increased its stake 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 valued at $258,000 after purchasing an additional 443 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.

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.