Key Points
- Director Zachary Bawel purchased 401 GABC shares at an average price of $49.89, investing $20,005.89 and increasing his ownership by 1.5% to 27,215 shares.
- German American Bancorp recently exceeded quarterly earnings expectations, reporting $1.02 in EPS versus the $0.92 consensus and $99.95 million in revenue.
- The company pays a quarterly dividend of $0.31, or $1.24 annually, yielding approximately 2.5%; analysts maintain a “Moderate Buy” consensus with a $53.33 target price.
German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) Director Zachary Bawel purchased 401 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $49.89 per share, with a total value of $20,005.89. Following the purchase, the director owned 27,215 shares in the company, valued at approximately $1,357,756.35. This trade represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
German American Bancorp Stock Down 1.3%
Shares of NASDAQ GABC opened at $49.18 on Thursday. The company has a market capitalization of $1.85 billion, a P/E ratio of 12.98 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day simple moving average of $49.60 and a 200-day simple moving average of $45.58. German American Bancorp, Inc. has a 1 year low of $37.19 and a 1 year high of $52.23.
German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The bank reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. The firm had revenue of $99.95 million for the quarter, compared to analysts' expectations of $99.22 million. German American Bancorp had a return on equity of 12.14% and a net margin of 28.25%. On average, equities research analysts predict that German American Bancorp, Inc. will post 3.86 earnings per share for the current year.
German American Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a $0.31 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.24 dividend on an annualized basis and a yield of 2.5%. German American Bancorp's payout ratio is currently 32.72%.
Institutional Investors Weigh In On German American Bancorp
Institutional investors and hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new position in German American Bancorp during the 2nd quarter valued at about $593,000. Tidal Investments LLC purchased a new position in shares of German American Bancorp in the second quarter valued at approximately $624,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of German American Bancorp by 22.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 22,409 shares of the bank's stock valued at $1,064,000 after purchasing an additional 4,035 shares during the period. Field & Main Bank acquired a new position in shares of German American Bancorp in the second quarter valued at approximately $142,000. Finally, Glenview Trust Co acquired a new position in shares of German American Bancorp in the second quarter valued at approximately $1,793,000. Hedge funds and other institutional investors own 46.90% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GABC. Wall Street Zen upgraded German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of German American Bancorp from $47.00 to $51.00 and gave the company a "market perform" rating in a report on Thursday, July 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 target price (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. Weiss Ratings lowered shares of German American Bancorp from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, September 1st. Finally, Raymond James Financial initiated coverage on shares of German American Bancorp in a report on Wednesday, July 8th. They issued a "hold" rating on the stock. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.33.
View Our Latest Stock Report on GABC
About German American Bancorp
(
Get Free Report)
German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides a range of banking and financial services to individuals, families, farmers, businesses and other organizations.
Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.
German American Bancorp traces its history to the founding of German American Bank in 1910.
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