German American Bancorp (NASDAQ:GABC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

German American Bancorp (NASDAQ:GABC) posted its quarterly earnings data on Monday. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09, Zacks reports. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%.

German American Bancorp Stock Up 1.0 %

NASDAQ:GABC opened at $41.39 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $41.46 and its 200-day moving average price is $40.67. German American Bancorp has a 1-year low of $30.66 and a 1-year high of $47.08. The firm has a market capitalization of $1.23 billion, a P/E ratio of 14.68 and a beta of 0.64.

German American Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.80%. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, February 10th. German American Bancorp’s payout ratio is presently 38.30%.

Wall Street Analysts Forecast Growth

GABC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Stephens assumed coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price for the company. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the company from $41.00 to $48.00 in a research note on Wednesday, October 30th. Finally, Piper Sandler lowered their price objective on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.40.

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.