German American Bancorp (NASDAQ:GABC) Sets New 1-Year High – Time to Buy?

German American Bancorp, Inc. (NASDAQ:GABC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.74 and last traded at $45.81, with a volume of 407 shares traded. The stock had previously closed at $46.26.

Analyst Upgrades and Downgrades

GABC has been the subject of several recent analyst reports. Raymond James upped their price objective on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. 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. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.25.

German American Bancorp Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.83. The business has a 50 day simple moving average of $40.25 and a 200-day simple moving average of $37.16. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 16.51 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The business had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, equities analysts expect that German American Bancorp, Inc. will post 2.74 earnings per share for the current year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Sunday, November 10th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. German American Bancorp’s dividend payout ratio is presently 38.99%.

Institutional Investors Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC raised its position in shares of German American Bancorp by 1.1% in the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock valued at $1,198,000 after purchasing an additional 323 shares during the period. BNP Paribas Financial Markets increased its position 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 worth $241,000 after purchasing an additional 365 shares during the period. Pettinga Financial Advisors LLC lifted its holdings in shares of German American Bancorp by 6.5% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after acquiring an additional 443 shares during the period. Chatham Capital Group Inc. lifted its position in shares of German American Bancorp by 1.7% during the 2nd quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock worth $1,779,000 after buying an additional 840 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in German American Bancorp by 5.6% during the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock worth $799,000 after acquiring an additional 1,097 shares in the last quarter. 46.90% of the stock is owned by institutional investors.

German American Bancorp Company Profile

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.