German American Bancorp (NASDAQ:GABC) Issues Quarterly Earnings Results, Meets Estimates

German American Bancorp (NASDAQ:GABC) announced its quarterly earnings results on Monday. The bank reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64, Yahoo Finance reports. German American Bancorp had a net margin of 27.10% and a return on equity of 14.26%. The business had revenue of $84.08 million during the quarter, compared to analysts’ expectations of $61.05 million.

German American Bancorp Price Performance

German American Bancorp stock opened at $32.03 on Tuesday. The firm has a market capitalization of $947.45 million, a PE ratio of 10.97 and a beta of 0.62. German American Bancorp has a 52 week low of $24.85 and a 52 week high of $34.96. The firm’s 50-day simple moving average is $32.65 and its 200 day simple moving average is $31.35. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.29.

Insider Activity

In other news, Director Diane B. Medley bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $33.64 per share, for a total transaction of $33,640.00. Following the completion of the transaction, the director now owns 3,660 shares in the company, valued at $123,122.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 1,107 shares of company stock worth $37,113 over the last ninety days. 4.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

GABC has been the subject of a number of research reports. Raymond James boosted their price target on shares of German American Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler lifted their price target on German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st.

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.