German American Bancorp (NASDAQ:GABC) Stock Passes Above 200 Day Moving Average – Here’s What Happened

German American Bancorp, Inc. (NASDAQ:GABC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $35.66 and traded as high as $39.79. German American Bancorp shares last traded at $39.45, with a volume of 53,644 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Finally, Raymond James upped 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, German American Bancorp presently has a consensus rating of “Hold” and an average price target of $40.67.

German American Bancorp Stock Performance

The stock has a 50 day moving average price of $38.66 and a two-hundred day moving average price of $35.68. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.84 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The company had revenue of $64.89 million during the quarter, compared to the consensus estimate of $60.20 million. On average, analysts predict that German American Bancorp, Inc. will post 2.7 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Saturday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, August 9th. German American Bancorp’s dividend payout ratio is 37.89%.

Insider Activity

In other news, Director Thomas W. Seger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the acquisition, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other German American Bancorp news, Director Thomas W. Seger acquired 3,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane B. Medley bought 710 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $36.37 per share, with a total value of $25,822.70. Following the acquisition, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 4,078 shares of company stock valued at $150,203. Company insiders own 6.16% of the company’s stock.

Hedge Funds Weigh In On German American Bancorp

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC boosted its stake in German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after acquiring an additional 1,339 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of German American Bancorp during the second quarter worth $207,000. SG Americas Securities LLC acquired a new position in shares of German American Bancorp in the 3rd quarter valued at $247,000. Virtu Financial LLC bought a new stake in shares of German American Bancorp in the 4th quarter valued at $251,000. Finally, LSV Asset Management raised its stake in German American Bancorp by 96.4% during the 1st quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock worth $252,000 after buying an additional 3,565 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.

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.