German American Bancorp (NASDAQ:GABC) Issues Earnings Results

German American Bancorp (NASDAQ:GABC) released its quarterly earnings data on Monday. The bank reported $0.71 earnings per share (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 during the quarter, compared to the consensus estimate 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 Stock Up 2.6 %

NASDAQ:GABC opened at $41.27 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.48 and a beta of 0.61. German American Bancorp has a one year low of $24.85 and a one year high of $42.78. The stock has a 50-day simple moving average of $39.32 and a 200 day simple moving average of $36.31.

German American Bancorp Dividend Announcement

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 given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, November 8th. German American Bancorp’s payout ratio is currently 37.89%.

Insider Buying and Selling at German American Bancorp

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com cut German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $48.00 in a research note on Wednesday. Stephens assumed coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price target on the stock. Piper Sandler upped their price objective 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. Finally, Raymond James raised their target price on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.25.

German American Bancorp Company Profile

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.