German American Bancorp (NASDAQ:GABC) Hits New 1-Year High – What’s Next?

German American Bancorp, Inc. (NASDAQ:GABC)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $44.75 and last traded at $44.71, with a volume of 3489 shares changing hands. The stock had previously closed at $41.27.

Analysts Set New Price Targets

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

German American Bancorp Price Performance

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 16.12 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $39.63 and its 200 day moving average is $36.71.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $62.40 million during the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a return on equity of 12.27% and a net margin of 23.75%. On average, equities research analysts anticipate that German American Bancorp, Inc. will post 2.71 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 yield of 2.42%. German American Bancorp’s payout ratio is presently 38.99%.

Hedge Funds Weigh In On German American Bancorp

A number of hedge funds have recently modified their holdings of the business. Kennedy Capital Management LLC acquired a new position in shares of German American Bancorp in the 1st quarter worth approximately $6,828,000. LSV Asset Management lifted its holdings in German American Bancorp by 303.3% in the second quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock valued at $1,036,000 after buying an additional 22,035 shares during the period. Price T Rowe Associates Inc. MD boosted its position in German American Bancorp by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank’s stock valued at $1,040,000 after acquiring an additional 2,326 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of German American Bancorp in the 2nd quarter worth about $5,887,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of German American Bancorp in the 2nd quarter valued at about $1,034,000. Institutional investors and hedge funds own 46.90% 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.