German American Bancorp (NASDAQ:GABC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

German American Bancorp (NASDAQ:GABC) had its target price hoisted by 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’ price target would suggest a potential upside of 13.36% from the stock’s current price.

GABC has been the topic of several other reports. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $41.00 to $48.00 in a report on Wednesday, October 30th. Piper Sandler lowered their price objective on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Stephens initiated coverage on German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.40.

German American Bancorp Stock Performance

NASDAQ:GABC opened at $41.46 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $41.73 and a 200 day simple moving average of $40.61. German American Bancorp has a 1-year low of $30.66 and a 1-year high of $47.08. The stock has a market cap of $1.23 billion, a P/E ratio of 14.97 and a beta of 0.65.

German American Bancorp (NASDAQ:GABC) last announced its earnings results 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%. Research analysts anticipate that German American Bancorp will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On German American Bancorp

Large investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in shares of German American Bancorp during the 3rd quarter worth $99,000. Renaissance Technologies LLC acquired a new position in German American Bancorp during the second quarter worth about $207,000. BNP Paribas Financial Markets lifted its holdings in shares of German American Bancorp by 6.2% in the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after acquiring an additional 365 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of German American Bancorp in the 3rd quarter valued at approximately $247,000. Finally, Semanteon Capital Management LP bought a new stake in shares of German American Bancorp during the 3rd quarter valued at approximately $346,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

About German American Bancorp

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.