German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) Director Zachary Bawel acquired 344 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The stock was purchased at an average cost of $49.66 per share, with a total value of $17,083.04. Following the completion of the purchase, the director directly owned 27,560 shares in the company, valued at $1,368,629.60. This represents a 1.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
German American Bancorp Price Performance
GABC stock traded up $0.40 during midday trading on Friday, hitting $49.93. 230,924 shares of the stock were exchanged, compared to its average volume of 153,853. The stock's 50-day moving average price is $49.52 and its 200-day moving average price is $46.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 13.17 and a beta of 0.61. German American Bancorp, Inc. has a fifty-two week low of $37.72 and a fifty-two week high of $52.23.
German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its earnings results on Monday, July 27th. The bank reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. German American Bancorp had a return on equity of 12.14% and a net margin of 28.25%. The company had revenue of $99.95 million for the quarter, compared to analyst estimates of $99.22 million. Research analysts predict that German American Bancorp, Inc. will post 3.92 earnings per share for the current year.
German American Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 10th. German American Bancorp's dividend payout ratio is presently 32.72%.
Institutional Investors Weigh In On German American Bancorp
Several hedge funds have recently modified their holdings of GABC. BlackRock Inc. acquired a new stake in shares of German American Bancorp during the 2nd quarter worth about $142,155,000. Dimensional Fund Advisors LP raised its position in shares of German American Bancorp by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank's stock valued at $50,982,000 after buying an additional 31,627 shares during the last quarter. German American Bancorp Inc. lifted its stake in shares of German American Bancorp by 1.3% during the first quarter. German American Bancorp Inc. now owns 966,872 shares of the bank's stock valued at $40,406,000 after buying an additional 12,585 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of German American Bancorp during the second quarter valued at approximately $14,364,000. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of German American Bancorp by 15.1% during the first quarter. Deprince Race & Zollo Inc. now owns 233,513 shares of the bank's stock valued at $9,759,000 after buying an additional 30,612 shares during the period. 46.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on GABC. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 price target (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Raymond James Financial started coverage on shares of German American Bancorp in a research note on Wednesday, July 8th. They set a "hold" rating for the company. Weiss Ratings upgraded German American Bancorp from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods upped their target price on German American Bancorp from $47.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, German American Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $53.33.
Get Our Latest Report on German American Bancorp
About German American Bancorp
(
Get Free Report)
German American Bancorp, Inc is a financial services holding company headquartered in Jasper, Indiana. Through its subsidiary, German American Bank, the company provides banking and related financial services to individuals, families, businesses, and institutions.
German American Bank offers deposit accounts, residential and commercial lending, agricultural loans, consumer financing, treasury management, and other traditional banking products. The company also provides wealth management, trust and investment services, insurance products, and financial planning through affiliated business lines.
The company traces its banking roots to 1910 and has expanded from its original southern Indiana market to serve communities across southern Indiana and neighboring areas of Kentucky.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
