German American Bancorp (NASDAQ:GABC) Sees Strong Trading Volume After Analyst Upgrade

Shares of German American Bancorp, Inc. (NASDAQ:GABC) saw unusually-high trading volume on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $46.00 to $47.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Approximately 454,476 shares were traded during trading, an increase of 431% from the previous session’s volume of 85,598 shares.The stock last traded at $41.68 and had previously closed at $41.71.

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

Institutional Investors Weigh In On German American Bancorp

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of German American Bancorp in the 3rd quarter worth approximately $99,000. Renaissance Technologies LLC bought a new stake in shares of German American Bancorp during the second quarter valued at approximately $207,000. BNP Paribas Financial Markets boosted its position in shares of German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after purchasing an additional 365 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of German American Bancorp during the third quarter valued at approximately $247,000. Finally, Semanteon Capital Management LP bought a new stake in shares of German American Bancorp during the third quarter valued at approximately $346,000. 46.90% of the stock is currently owned by institutional investors.

German American Bancorp Stock Down 0.1 %

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.24 billion, a P/E ratio of 15.05 and a beta of 0.65. The company has a 50-day moving average of $41.80 and a two-hundred day moving average of $40.60.

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

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.78%. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 10th. German American Bancorp’s payout ratio is 38.99%.

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.