German American Bancorp, Inc. (NASDAQ:GABC) to Issue Quarterly Dividend of $0.29

German American Bancorp, Inc. (NASDAQ:GABC) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be given a dividend of 0.29 per share by the bank on Thursday, February 20th. This represents a $1.16 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, February 10th. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27.

German American Bancorp has increased its dividend by an average of 8.7% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. German American Bancorp has a dividend payout ratio of 30.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect German American Bancorp to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 40.4%.

German American Bancorp Stock Performance

GABC stock opened at $41.71 on Thursday. The business’s 50-day moving average price is $41.80 and its two-hundred day moving average price is $40.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.24 billion, a PE ratio of 15.06 and a beta of 0.65. German American Bancorp has a 1-year low of $30.66 and a 1-year high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. As a group, research analysts forecast that German American Bancorp will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GABC. Stephens began coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Piper Sandler lowered their target price on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.40.

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.