German American Bancorp (NASDAQ:GABC) Upgraded to Outperform by Hovde Group

German American Bancorp (NASDAQ:GABC) was upgraded by stock analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, Briefing.com reports. The brokerage presently has a $48.00 price objective on the bank’s stock, up from their prior price objective of $41.00. Hovde Group’s price objective suggests a potential upside of 19.31% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Raymond James boosted their price objective on German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Stephens initiated coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price target on the stock. StockNews.com downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler increased their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, German American Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.25.

German American Bancorp Stock Down 1.1 %

German American Bancorp stock opened at $40.23 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $1.19 billion, a PE ratio of 14.12 and a beta of 0.61. The business has a 50 day simple moving average of $39.27 and a 200-day simple moving average of $36.27. German American Bancorp has a 12 month low of $24.85 and a 12 month high of $42.78.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The firm had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. On average, analysts anticipate that German American Bancorp will post 2.7 EPS for the current fiscal year.

Insider Activity at German American Bancorp

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

Institutional Investors Weigh In On German American Bancorp

Several large investors have recently modified their holdings of GABC. EntryPoint Capital LLC raised its holdings in German American Bancorp by 186.2% during the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after purchasing an additional 1,339 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of German American Bancorp during the 2nd quarter worth approximately $207,000. SG Americas Securities LLC purchased a new position in shares of German American Bancorp during the 3rd quarter worth approximately $247,000. LSV Asset Management lifted its holdings in shares of German American Bancorp by 96.4% in the 1st quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock valued at $252,000 after buying an additional 3,565 shares during the period. Finally, Pettinga Financial Advisors LLC boosted its stake in shares of German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after buying an additional 443 shares in the last quarter. Hedge funds and other institutional investors 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.