German American Bancorp (NASDAQ:GABC) Releases Earnings Results, Hits Expectations

German American Bancorp (NASDAQ:GABC) released its quarterly earnings data on Monday. The bank reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64, Yahoo Finance reports. German American Bancorp had a return on equity of 14.26% and a net margin of 27.10%. The business had revenue of $84.08 million for the quarter, compared to analysts’ expectations of $61.05 million.

German American Bancorp Price Performance

NASDAQ:GABC opened at $32.03 on Tuesday. The stock has a market capitalization of $947.45 million, a PE ratio of 10.97 and a beta of 0.62. German American Bancorp has a 1-year low of $24.85 and a 1-year high of $34.96. The firm has a fifty day simple moving average of $32.65 and a 200 day simple moving average of $31.35. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James boosted their price target on German American Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Piper Sandler boosted their target price on German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley acquired 1,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $33.64 per share, for a total transaction of $33,640.00. Following the completion of the purchase, the director now directly owns 3,660 shares of the company’s stock, valued at $123,122.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have bought 1,107 shares of company stock valued at $37,113. 4.59% of the stock is currently owned by corporate insiders.

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.