Brokerages Set German American Bancorp, Inc. (NASDAQ:GABC) Price Target at $45.25

Shares of German American Bancorp, Inc. (NASDAQ:GABC) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.40.

Several equities research analysts have recently commented on GABC shares. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Stephens started coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price on German American Bancorp from $43.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday.

German American Bancorp Price Performance

GABC opened at $45.04 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $42.28 and a 200 day moving average of $38.59. German American Bancorp has a 52-week low of $30.10 and a 52-week high of $47.08. The stock has a market cap of $1.34 billion, a P/E ratio of 16.26 and a beta of 0.63.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, sell-side analysts anticipate that German American Bancorp will post 2.76 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, November 8th. German American Bancorp’s dividend payout ratio is presently 38.99%.

Institutional Investors Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of GABC. Principal Financial Group Inc. purchased a new position in German American Bancorp during the 3rd quarter worth approximately $597,000. LSV Asset Management raised its holdings in shares of German American Bancorp by 303.3% during the second quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock worth $1,036,000 after purchasing an additional 22,035 shares during the last quarter. German American Bancorp Inc. raised its holdings in shares of German American Bancorp by 160.1% during the third 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 last quarter. Price T Rowe Associates Inc. MD lifted its position in German American Bancorp by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank’s stock valued at $1,040,000 after purchasing an additional 2,326 shares during the period. Finally, Mutual of America Capital Management LLC purchased a new stake in German American Bancorp in the second quarter valued at $5,887,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

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.