German American Bancorp (NASDAQ:GABC) Posts Earnings Results

German American Bancorp (NASDAQ:GABC) announced its earnings results on Monday. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01, Yahoo Finance reports. The company 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 24.44% and a return on equity of 12.97%.

German American Bancorp Trading Down 1.1 %

Shares of German American Bancorp stock opened at $40.23 on Wednesday. The firm has a market capitalization of $1.19 billion, a PE ratio of 14.12 and a beta of 0.61. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $39.27 and its 200 day moving average is $36.27. German American Bancorp has a 1 year low of $24.85 and a 1 year high of $42.78.

German American Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.68%. German American Bancorp’s dividend payout ratio (DPR) is currently 37.89%.

Analyst Ratings Changes

A number of equities analysts have commented on GABC shares. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price objective on the stock. Piper Sandler raised their price target on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Raymond James increased their price objective on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $48.00 in a research report on Wednesday. Finally, StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.25.

Insider Buying and Selling at German American Bancorp

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