German American Bancorp (NASDAQ:GABC) Reaches New 12-Month High – What’s Next?

German American Bancorp, Inc. (NASDAQ:GABC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.76 and last traded at $46.72, with a volume of 6314 shares. The stock had previously closed at $45.96.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. StockNews.com cut shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Raymond James boosted 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 boosted 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. Finally, Stephens started coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, German American Bancorp has a consensus rating of “Hold” and a consensus price target of $45.25.

German American Bancorp Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $1.38 billion, a PE ratio of 16.59 and a beta of 0.61. The stock’s 50 day simple moving average is $41.07 and its 200-day simple moving average is $37.80.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. The firm had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. As a group, equities analysts forecast that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp’s dividend payout ratio (DPR) is 38.99%.

Hedge Funds Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of German American Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock valued at $39,930,000 after acquiring an additional 14,478 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock valued at $36,988,000 after acquiring an additional 32,816 shares during the period. State Street Corp lifted its holdings in shares of German American Bancorp by 6.9% during the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock worth $29,941,000 after purchasing an additional 50,206 shares during the period. Geode Capital Management LLC lifted its holdings in shares of German American Bancorp by 1.6% during the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock worth $27,289,000 after purchasing an additional 11,386 shares during the period. Finally, German American Bancorp Inc. lifted 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 period. 46.90% of the stock is owned by institutional investors and hedge funds.

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.