German American Bancorp (NASDAQ:GABC) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of German American Bancorp (NASDAQ:GABC) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks reports.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised their target price 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 reissued an “overweight” rating and issued a $60.00 price target (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 report on Thursday, October 8th. Raymond James Financial started coverage on shares of German American Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating on the stock. Finally, Wall Street Zen raised shares of German American Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, German American Bancorp has an average rating of “Buy” and a consensus target price of $53.33.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $49.60 on Monday. The stock’s 50-day simple moving average is $49.42 and its two-hundred day simple moving average is $45.76. German American Bancorp has a twelve month low of $37.73 and a twelve month high of $52.23. The firm has a market capitalization of $1.86 billion, a P/E ratio of 12.78 and a beta of 0.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.14.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, October 26th. The bank reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $102.65 million. As a group, equities analysts anticipate that German American Bancorp will post 3.95 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.24 annualized dividend and a dividend yield of 2.5%. German American Bancorp’s dividend payout ratio is 31.96%.

Institutional Trading of German American Bancorp

A number of hedge funds have recently bought and sold shares of the company. USA Financial Formulas purchased a new position in German American Bancorp in the 3rd quarter worth $40,000. Parallel Advisors LLC lifted its stake in German American Bancorp by 220.7% in the first quarter. Parallel Advisors LLC now owns 1,347 shares of the bank’s stock worth $56,000 after purchasing an additional 927 shares during the last quarter. Lido Advisors LLC boosted its position in German American Bancorp by 17.1% during the first quarter. Lido Advisors LLC now owns 6,850 shares of the bank’s stock valued at $286,000 after buying an additional 1,000 shares during the period. First Trust Advisors LP boosted its position in German American Bancorp by 3.1% during the first quarter. First Trust Advisors LP now owns 50,781 shares of the bank’s stock valued at $2,122,000 after buying an additional 1,529 shares during the period. Finally, Quantinno Capital Management LP boosted its position in German American Bancorp by 16.1% during the first quarter. Quantinno Capital Management LP now owns 12,483 shares of the bank’s stock valued at $522,000 after buying an additional 1,728 shares during the period. Institutional investors own 46.90% of the company’s stock.

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.