Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for German American Bancorp (NASDAQ:GABC) Stock

German American Bancorp (NASDAQ:GABC) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $46.00 to $47.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 13.48% from the company’s current price.

A number of other analysts also recently weighed in on the company. Piper Sandler decreased their price objective on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday. Stephens assumed coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.40.

German American Bancorp Trading Down 0.7 %

German American Bancorp stock traded down $0.28 during trading hours on Wednesday, hitting $41.42. The stock had a trading volume of 13,146 shares, compared to its average volume of 85,599. The business’s 50 day simple moving average is $41.87 and its 200-day simple moving average is $40.60. German American Bancorp has a one year low of $30.66 and a one year high of $47.08. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.95 and a beta of 0.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. On average, equities analysts predict that German American Bancorp will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On German American Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in shares of German American Bancorp by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock worth $67,557,000 after buying an additional 196,003 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock worth $36,988,000 after purchasing an additional 32,816 shares during the period. State Street Corp increased its stake in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after purchasing an additional 50,206 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of German American Bancorp by 1.6% during the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock valued at $27,289,000 after purchasing an additional 11,386 shares during the period. Finally, German American Bancorp Inc. boosted its position in shares of German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after purchasing an additional 316,400 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors.

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.