German American Bancorp (NASDAQ:GABC) Issues Earnings Results

German American Bancorp (NASDAQ:GABC) issued its quarterly earnings results on Monday. The bank reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02, FiscalAI reports. German American Bancorp had a return on equity of 12.14% and a net margin of 28.25%. The company had revenue of $103.68 million for the quarter, compared to the consensus estimate of $102.65 million.

German American Bancorp Price Performance

GABC traded up $0.27 during midday trading on Monday, hitting $51.11. The company had a trading volume of 151,157 shares, compared to its average volume of 150,403. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $1.92 billion, a PE ratio of 13.49 and a beta of 0.61. The firm’s 50-day simple moving average is $49.49 and its 200-day simple moving average is $47.15. German American Bancorp has a twelve month low of $37.73 and a twelve month high of $52.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GABC shares. Keefe, Bruyette & Woods raised their price objective on shares of German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $60.00 price target (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Wall Street Zen upgraded shares of German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Raymond James Financial started coverage on shares of German American Bancorp in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.33.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides banking, wealth management, and insurance services to individuals, families, farmers, and businesses.

German American Bank offers deposit accounts, residential and commercial real estate loans, agricultural financing, commercial loans, consumer loans, mortgage services, and other traditional banking products. Its wealth management operations provide trust administration, investment management, financial planning, and related services, while its insurance business offers personal and commercial insurance products.

Founded in 1910, German American Bancorp has built a community banking franchise serving southern Indiana and neighboring communities in Kentucky and Ohio.