German American Bancorp (NASDAQ:GABC) Issues Earnings Results

German American Bancorp (NASDAQ:GABC) released its earnings results on Monday. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01, Yahoo Finance reports. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The company had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million.

German American Bancorp Stock Up 2.6 %

Shares of NASDAQ:GABC traded up $1.04 during midday trading on Wednesday, hitting $41.27. The stock had a trading volume of 112,460 shares, compared to its average volume of 103,282. German American Bancorp has a 12 month low of $24.85 and a 12 month high of $42.78. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The business’s 50-day simple moving average is $39.32 and its 200-day simple moving average is $36.31. The company has a market cap of $1.22 billion, a P/E ratio of 14.48 and a beta of 0.61.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.62%. German American Bancorp’s dividend payout ratio is currently 37.89%.

Insider Activity at German American Bancorp

In other news, Director Thomas W. Seger bought 3,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Thomas W. Seger bought 3,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Diane B. Medley acquired 710 shares of German American Bancorp stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $36.37 per share, with a total value of $25,822.70. Following the completion of the transaction, the director now owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 3,732 shares of company stock valued at $137,119. 6.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James increased their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler increased their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Stephens initiated coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. StockNews.com downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $41.00 to $48.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, German American Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.25.

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.