German American Bancorp (NASDAQ:GABC) Posts Earnings Results

German American Bancorp (NASDAQ:GABCGet Free Report) 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.

Get Our Latest Stock Report on German American Bancorp

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

(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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Earnings History for German American Bancorp (NASDAQ:GABC)

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