Piper Sandler Lowers German American Bancorp (NASDAQ:GABC) Price Target to $48.00

German American Bancorp (NASDAQ:GABC) had its target price lowered by Piper Sandler from $49.00 to $48.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

GABC has been the topic of several other reports. Keefe, Bruyette & Woods increased their target price on German American Bancorp from $43.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens assumed coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $41.00 to $48.00 in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.40.

German American Bancorp Stock Down 0.3 %

GABC opened at $41.33 on Wednesday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 14.66 and a beta of 0.65. German American Bancorp has a 12 month low of $30.66 and a 12 month high of $47.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $41.64 and a two-hundred day moving average of $40.63.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. On average, research analysts expect that German American Bancorp will post 2.67 earnings per share for the current year.

German American Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s payout ratio is currently 38.30%.

Institutional Investors Weigh In On German American Bancorp

A number of large investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in German American Bancorp in the 3rd quarter worth approximately $99,000. Renaissance Technologies LLC acquired a new position in shares of German American Bancorp during the second quarter worth $207,000. BNP Paribas Financial Markets boosted its stake in shares of German American Bancorp by 6.2% in the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after purchasing an additional 365 shares during the period. SG Americas Securities LLC acquired a new stake in German American Bancorp during the 3rd quarter valued at $247,000. Finally, Semanteon Capital Management LP purchased a new stake in German American Bancorp during the 3rd quarter worth $346,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

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.