German American Bancorp (NASDAQ:GABC) Hits New 12-Month High – Time to Buy?

Shares of German American Bancorp, Inc. (NASDAQ:GABC) hit a new 52-week high on Monday . The stock traded as high as $46.76 and last traded at $46.72, with a volume of 6314 shares traded. The stock had previously closed at $45.96.

Wall Street Analyst Weigh In

GABC has been the topic of several recent analyst reports. Hovde Group raised 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 report on Wednesday, October 30th. Stephens initiated coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price objective on the stock. Piper Sandler lifted their target price on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, 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 note on Wednesday, July 31st. One research 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’s stock. Based on data from MarketBeat.com, German American Bancorp currently has a consensus rating of “Hold” and an average price target of $45.25.

German American Bancorp Trading Up 0.0 %

The stock has a 50-day moving average of $41.19 and a 200 day moving average of $37.89. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.36 billion, a PE ratio of 16.49 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The business had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, sell-side analysts anticipate that German American Bancorp, Inc. will post 2.76 earnings per share for the current year.

German American Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.36%. German American Bancorp’s payout ratio is currently 38.99%.

Hedge Funds Weigh In On German American Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC raised its position in German American Bancorp by 1.1% during the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock valued at $1,198,000 after acquiring an additional 323 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of German American Bancorp by 6.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after purchasing an additional 365 shares during the period. Pettinga Financial Advisors LLC grew its stake in shares of German American Bancorp by 6.5% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after purchasing an additional 443 shares during the period. Chatham Capital Group Inc. increased its holdings in shares of German American Bancorp by 1.7% during the 2nd quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock valued at $1,779,000 after purchasing an additional 840 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of German American Bancorp by 5.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after purchasing an additional 1,097 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

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.