German American Bancorp, Inc. (NASDAQ:GABC) Stock Has Average Price Target of $53.33 According to Brokerages

German American Bancorp, Inc. (NASDAQ:GABC) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $53.33.

GABC has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of German American Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, September 17th. Raymond James Financial assumed coverage on shares of German American Bancorp in a research note on Wednesday, July 8th. They set a “hold” rating on the stock. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods raised their price objective on German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of German American Bancorp in the second quarter valued at about $142,155,000. Dimensional Fund Advisors LP increased its holdings in shares of German American Bancorp by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank’s stock valued at $50,982,000 after purchasing an additional 31,627 shares during the period. German American Bancorp Inc. purchased a new stake in shares of German American Bancorp during the second quarter worth approximately $45,154,000. Royce & Associates LP raised its stake in shares of German American Bancorp by 4.0% during the fourth quarter. Royce & Associates LP now owns 507,632 shares of the bank’s stock worth $19,889,000 after purchasing an additional 19,345 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of German American Bancorp during the second quarter worth $14,364,000. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Performance

Shares of GABC stock opened at $49.50 on Monday. German American Bancorp has a fifty-two week low of $37.19 and a fifty-two week high of $52.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s fifty day moving average is $49.80 and its two-hundred day moving average is $45.98. The firm has a market capitalization of $1.86 billion, a P/E ratio of 13.06 and a beta of 0.58.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, July 27th. The bank reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. The business had revenue of $99.95 million during the quarter, compared to analysts’ expectations of $99.22 million. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. Research analysts expect that German American Bancorp will post 3.88 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 10th. German American Bancorp’s payout ratio is presently 32.72%.

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 a range of banking and financial services to individuals, families, farmers, businesses and other organizations.

Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.

German American Bancorp traces its history to the founding of German American Bank in 1910.