German American Bancorp (NASDAQ:GABC) Sees Unusually-High Trading Volume - Still a Buy?

Shares of German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) saw unusually-high trading volume on Friday . Approximately 484,082 shares changed hands during trading, an increase of 369% from the previous session's volume of 103,222 shares.The stock last traded at $40.29 and had previously closed at $41.11.

Wall Street Analysts Forecast Growth

GABC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on German American Bancorp from $43.00 to $46.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Hovde Group raised German American Bancorp from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $41.00 to $48.00 in a report on Wednesday, October 30th. Finally, Stephens started 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 on the stock. One investment 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 company presently has a consensus rating of "Hold" and a consensus target price of $45.40.

German American Bancorp Price Performance

The stock has a market capitalization of $1.20 billion, a P/E ratio of 14.64 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average price of $43.38 and a 200 day moving average price of $39.68.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million for the quarter, compared to analysts' expectations of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. On average, analysts expect that German American Bancorp, Inc. will post 2.76 EPS for the current year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp's payout ratio is presently 38.99%.

Hedge Funds Weigh In On German American Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of GABC. Quantbot Technologies LP purchased a new position in shares of German American Bancorp in the third quarter valued at about $99,000. Renaissance Technologies LLC purchased a new position in German American Bancorp during the 2nd quarter valued at about $207,000. BNP Paribas Financial Markets raised its position in German American Bancorp by 6.2% during the 3rd 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 during the last quarter. SG Americas Securities LLC purchased a new stake in German American Bancorp in the 3rd quarter worth approximately $247,000. Finally, Semanteon Capital Management LP purchased a new stake in German American Bancorp in the 3rd quarter worth approximately $346,000. 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.