German American Bancorp (NASDAQ:GABC) Sets New 52-Week High at $35.00

German American Bancorp, Inc. (NASDAQ:GABC) reached a new 52-week high during trading on Thursday . The stock traded as high as $35.00 and last traded at $35.00, with a volume of 71320 shares changing hands. The stock had previously closed at $34.17.

Analyst Ratings Changes

Separately, Hovde Group boosted their target price on shares of German American Bancorp from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.33.

German American Bancorp Stock Up 2.9 %

The stock has a market cap of $1.04 billion, a P/E ratio of 12.20 and a beta of 0.62. The firm has a 50 day simple moving average of $32.51 and a 200-day simple moving average of $32.54. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.29.

German American Bancorp (NASDAQ:GABC) last posted its earnings results on Monday, April 29th. The bank reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. German American Bancorp had a return on equity of 13.68% and a net margin of 25.83%. The business had revenue of $84.08 million for the quarter, compared to analyst estimates of $61.05 million. On average, equities research analysts forecast that German American Bancorp, Inc. will post 2.51 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 10th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, May 9th. German American Bancorp’s dividend payout ratio is presently 37.89%.

Institutional Investors Weigh In On German American Bancorp

Hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC grew its position in shares of German American Bancorp by 186.2% in the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after purchasing an additional 1,339 shares during the last quarter. LSV Asset Management bought a new position in German American Bancorp during the 4th quarter worth $120,000. SG Americas Securities LLC acquired a new stake in shares of German American Bancorp during the fourth quarter worth $142,000. Virtu Financial LLC bought a new stake in shares of German American Bancorp in the fourth quarter valued at about $251,000. Finally, Diversified Trust Co grew its stake in shares of German American Bancorp by 20.6% in the first quarter. Diversified Trust Co now owns 12,002 shares of the bank’s stock valued at $416,000 after acquiring an additional 2,050 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors and hedge funds.

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.