German American Bancorp (NASDAQ:GABC) Issues Quarterly Earnings Results

by · The Cerbat Gem

German American Bancorp (NASDAQ:GABC – Get Free Report) announced its quarterly earnings data 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 business had revenue of $62.40 million for the quarter, compared to analyst estimates 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 Price Performance

Shares of NASDAQ:GABC opened at $40.23 on Wednesday. The company has a 50 day moving average of $39.27 and a 200 day moving average of $36.27. The stock has a market cap of $1.19 billion, a P/E ratio of 14.12 and a beta of 0.61. German American Bancorp has a 12 month low of $24.85 and a 12 month high of $42.78. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Sunday, November 10th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.08 annualized dividend and a yield of 2.68%. German American Bancorp’s dividend payout ratio is currently 37.89%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GABC. Stephens began 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 objective on the stock. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday. Raymond James lifted 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 report on Wednesday, July 31st. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler boosted their price target on shares of 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.25.

Check Out Our Latest Stock Analysis on German American Bancorp

Insider Activity at German American Bancorp

In other news, Director Thomas W. Seger acquired 3,000 shares of German American Bancorp stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $36.80 per share, with a total value of $110,400.00. Following the completion of the purchase, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Diane B. Medley purchased 710 shares of the business’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 purchase, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas W. Seger purchased 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $36.80 per share, with a total value of $110,400.00. Following the purchase, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,732 shares of company stock valued at $137,119. Corporate insiders own 6.16% of the company’s stock.

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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