Keefe, Bruyette & Woods Issues Positive Forecast for German American Bancorp (NASDAQ:GABC) Stock Price

German American Bancorp (NASDAQ:GABC) had its price objective increased by Keefe, Bruyette & Woods from $46.00 to $47.00 in a report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reduced their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Finally, Stephens began coverage on German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.40.

German American Bancorp Stock Up 0.0 %

Shares of NASDAQ:GABC opened at $41.71 on Wednesday. The company has a 50-day moving average price of $41.80 and a 200 day moving average price of $40.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp has a 12 month low of $30.66 and a 12 month high of $47.08. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 15.06 and a beta of 0.65.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. As a group, equities research analysts predict that German American Bancorp will post 2.76 earnings per share for the current year.

German American Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.78%. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 10th. German American Bancorp’s payout ratio is 41.13%.

Hedge Funds Weigh In On German American Bancorp

A number of institutional investors have recently modified their holdings of the stock. Cerity Partners LLC grew its stake in German American Bancorp by 1.1% in the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after purchasing an additional 323 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of German American Bancorp by 6.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after buying an additional 365 shares during the period. Valeo Financial Advisors LLC grew its position in shares of German American Bancorp by 5.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock worth $799,000 after buying an additional 1,097 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. increased its stake in shares of German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock valued at $2,419,000 after buying an additional 1,290 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of German American Bancorp by 12.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,090 shares of the bank’s stock valued at $692,000 after acquiring an additional 1,986 shares in the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

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.