German American Bancorp (NASDAQ:GABC) Upgraded by Hovde Group to “Outperform” Rating

German American Bancorp (NASDAQ:GABC) was upgraded by equities research analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $48.00 price target on the bank’s stock, up from their prior price target of $41.00. Hovde Group’s price target would suggest a potential upside of 18.55% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Stephens assumed coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. StockNews.com cut shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Raymond James raised their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler lifted their target price on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, German American Bancorp presently has a consensus rating of “Hold” and an average price target of $45.25.

German American Bancorp Price Performance

GABC stock opened at $40.49 on Wednesday. The stock has a market capitalization of $1.20 billion, a PE ratio of 14.21 and a beta of 0.61. The company’s 50-day moving average is $39.32 and its 200-day moving average is $36.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. German American Bancorp has a 1 year low of $24.85 and a 1 year high of $42.78.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The company had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.80 million. Equities research analysts expect that German American Bancorp will post 2.7 EPS for the current fiscal year.

Insider Transactions at German American Bancorp

In related news, Director Diane B. Medley purchased 710 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the purchase, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas W. Seger purchased 3,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now directly owns 484,342 shares in the company, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane B. Medley purchased 710 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $36.37 per share, with a total value of $25,822.70. Following the purchase, the director now owns 4,370 shares in the company, valued at $158,936.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,732 shares of company stock worth $137,119 in the last quarter. Insiders own 6.16% of the company’s stock.

Institutional Investors Weigh In On German American Bancorp

Several large investors have recently modified their holdings of GABC. Dimensional Fund Advisors LP grew its stake in German American Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock valued at $39,930,000 after buying an additional 14,478 shares in the last quarter. Bank of New York Mellon Corp grew its stake in German American Bancorp by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank’s stock valued at $7,166,000 after buying an additional 8,028 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in German American Bancorp in the 1st quarter valued at approximately $6,828,000. Mutual of America Capital Management LLC purchased a new position in German American Bancorp in the 2nd quarter valued at approximately $5,887,000. Finally, Wedge Capital Management L L P NC grew its stake in German American Bancorp by 3.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 116,277 shares of the bank’s stock valued at $4,110,000 after buying an additional 4,076 shares in the last quarter. Hedge funds and other institutional investors 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.