German American Bancorp (NASDAQ:GABC) Sets New 12-Month High – Still a Buy?

Shares of German American Bancorp, Inc. (NASDAQ:GABC) hit a new 52-week high on Thursday. The company traded as high as $52.39 and last traded at $51.7570, with a volume of 12,877 shares trading hands. The stock had previously closed at $50.76.

Wall Street Analyst Weigh In

GABC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a research note on Thursday, July 30th. Weiss Ratings raised shares of German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Raymond James Financial started coverage on German American Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating for the company. Finally, Zacks Research raised German American Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, German American Bancorp presently has an average rating of “Buy” and an average price target of $53.33.

German American Bancorp Trading Up 1.7%

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 13.26 and a beta of 0.62. The business has a fifty day simple moving average of $49.44 and a 200 day simple moving average of $45.81.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings results on Monday, October 26th. The bank reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. German American Bancorp had a return on equity of 12.33% and a net margin of 28.78%. The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $102.65 million. On average, equities analysts anticipate that German American Bancorp, Inc. will post 3.95 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. German American Bancorp’s dividend payout ratio is 31.96%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GABC. Legal & General Group Plc purchased a new position in shares of German American Bancorp during the 2nd quarter worth $1,465,000. Glenview Trust Co purchased a new position in German American Bancorp in the second quarter valued at approximately $1,793,000. The Manufacturers Life Insurance Company acquired a new position in shares of German American Bancorp during the 2nd quarter valued at $14,364,000. Bank of New York Mellon Corp purchased a new stake in shares of German American Bancorp during the 2nd quarter valued at about $10,440,000. Finally, Bank of America Corp DE purchased a new position in shares of German American Bancorp in the second quarter valued at $3,531,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

German American Bancorp Company Profile

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.