German American Bancorp (NASDAQ:GABC) Price Target Lowered to $48.00 at Piper Sandler

German American Bancorp (NASDAQ:GABC - Free Report) had its target price decreased by Piper Sandler from $49.00 to $48.00 in a report issued on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank's stock.

Several other research analysts have also recently weighed in on GABC. Keefe, Bruyette & Woods upped their price objective on German American Bancorp from $43.00 to $46.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Stephens began coverage on German American Bancorp in a report on Tuesday, October 15th. They set an "overweight" rating and a $45.00 price target for the company. Finally, Hovde Group upgraded shares of German American Bancorp from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. 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 company. According to data from MarketBeat.com, German American Bancorp presently has a consensus rating of "Hold" and a consensus price target of $46.40.

German American Bancorp Trading Down 0.6 %

GABC stock traded down $0.25 during midday trading on Wednesday, reaching $41.46. The stock had a trading volume of 550,181 shares, compared to its average volume of 113,957. The business has a fifty day simple moving average of $41.80 and a two-hundred day simple moving average of $40.60. 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 firm has a market cap of $1.23 billion, a price-to-earnings ratio of 14.97 and a beta of 0.65. German American Bancorp has a twelve month low of $30.66 and a twelve month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, research analysts expect that German American Bancorp will post 2.76 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, February 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from German American Bancorp's previous quarterly dividend of $0.27. German American Bancorp's dividend payout ratio (DPR) is currently 38.99%.

Hedge Funds Weigh In On German American Bancorp

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in German American Bancorp in the third quarter valued at approximately $597,000. Barclays PLC boosted its stake in shares of German American Bancorp by 577.6% in the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank's stock worth $2,684,000 after buying an additional 59,048 shares during the last quarter. State Street Corp boosted its stake in shares of German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank's stock worth $29,941,000 after buying an additional 50,206 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of German American Bancorp by 154.6% in the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank's stock valued at $2,358,000 after acquiring an additional 36,954 shares in the last quarter. Finally, German American Bancorp Inc. increased its position in shares of German American Bancorp by 160.1% during the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock valued at $19,918,000 after acquiring an additional 316,400 shares during the last quarter. 46.90% of the stock is currently owned by institutional investors.

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.