German American Bancorp (NASDAQ:GABC) Sees Unusually-High Trading Volume After Analyst Upgrade

German American Bancorp, Inc. (NASDAQ:GABCGet Free Report) shares saw unusually-high trading volume on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $46.00 to $47.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Approximately 454,476 shares traded hands during mid-day trading, an increase of 431% from the previous session’s volume of 85,598 shares.The stock last traded at $41.68 and had previously closed at $41.71.

Several other equities research analysts also recently commented on GABC. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Stephens initiated coverage on German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, Piper Sandler lowered their price objective on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.40.

Get Our Latest Stock Analysis on GABC

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in German American Bancorp in the third quarter valued at about $99,000. Renaissance Technologies LLC bought a new position in German American Bancorp in the second quarter valued at about $207,000. BNP Paribas Financial Markets grew its position in 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 acquiring an additional 365 shares during the last quarter. SG Americas Securities LLC bought a new position in German American Bancorp in the third quarter valued at about $247,000. Finally, Semanteon Capital Management LP bought a new position in German American Bancorp in the third quarter valued at about $346,000. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Performance

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 stock has a 50-day simple moving average of $41.73 and a 200-day simple moving average of $40.61. The stock has a market cap of $1.23 billion, a P/E ratio of 14.97 and a beta of 0.65.

German American Bancorp (NASDAQ:GABCGet Free Report) last announced its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. Research analysts forecast that German American Bancorp, Inc. will post 2.76 earnings per share for the current year.

German American Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 2.80%. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 10th. German American Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

German American Bancorp Company Profile

(Get Free Report)

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.

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