German American Bancorp (NASDAQ:GABC) PT Raised to $44.00

German American Bancorp (NASDAQ:GABC) had its price objective raised by Piper Sandler from $34.00 to $44.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Several other equities analysts have also commented on the stock. Hovde Group increased their price objective on shares of German American Bancorp from $33.00 to $34.00 and gave the company a market perform rating in a research report on Friday, May 31st. Raymond James lifted their price target on German American Bancorp from $40.00 to $44.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut German American Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $40.67.

German American Bancorp Stock Down 1.1 %

GABC stock traded down $0.43 during midday trading on Thursday, hitting $37.11. The company’s stock had a trading volume of 150,643 shares, compared to its average volume of 114,607. The company has a market cap of $1.10 billion, a PE ratio of 13.17 and a beta of 0.62. The firm’s 50-day moving average is $35.21 and its 200-day moving average is $33.51. German American Bancorp has a 12 month low of $24.85 and a 12 month high of $42.78. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Saturday, August 10th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.08 annualized dividend and a yield of 2.91%. German American Bancorp’s dividend payout ratio is currently 37.89%.

Hedge Funds Weigh In On German American Bancorp

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in German American Bancorp by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock worth $35,426,000 after buying an additional 30,050 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of German American Bancorp during the first quarter valued at $1,097,000. Kennedy Capital Management LLC acquired a new position in German American Bancorp during the 1st quarter valued at about $6,828,000. PNC Financial Services Group Inc. boosted its stake in shares of German American Bancorp by 101.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 23,295 shares of the bank’s stock worth $755,000 after acquiring an additional 11,732 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in German American Bancorp by 22.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 114,091 shares of the bank’s stock worth $3,698,000 after acquiring an additional 21,174 shares during the period. 46.90% of the stock is owned by hedge funds and other institutional investors.

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.