German American Bancorp (NASDAQ:GABC) Issues Earnings Results

German American Bancorp (NASDAQ:GABCGet Free Report) 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.

Check Out Our Latest Stock Analysis on GABC

About German American Bancorp

(Get Free Report)

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.

See Also

Earnings History for German American Bancorp (NASDAQ:GABC)

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