German American Bancorp (NASDAQ:GABC - Get Free Report) had its target price increased by stock analysts at 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' target price points to a potential upside of 13.48% from the company's current price.
A number of other analysts also recently weighed in on the company. Piper Sandler decreased their price objective on German American Bancorp from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday. Stephens assumed coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price target for the company. Finally, Hovde Group raised German American Bancorp from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. One equities research 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 stock presently has a consensus rating of "Hold" and a consensus target price of $46.40.
Get Our Latest Stock Analysis on GABC
German American Bancorp Trading Down 0.7 %
German American Bancorp stock traded down $0.28 during trading hours on Wednesday, hitting $41.42. The stock had a trading volume of 13,146 shares, compared to its average volume of 85,599. The business's 50 day simple moving average is $41.87 and its 200-day simple moving average is $40.60. German American Bancorp has a one year low of $30.66 and a one year high of $47.08. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.95 and a beta of 0.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27.
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, 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%. On average, equities analysts predict that German American Bancorp will post 2.76 EPS for the current fiscal year.
Institutional Investors Weigh In On German American Bancorp
A number of hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in shares of German American Bancorp by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank's stock worth $67,557,000 after buying an additional 196,003 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank's stock worth $36,988,000 after purchasing an additional 32,816 shares during the period. State Street Corp increased its stake in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank's stock valued at $29,941,000 after purchasing an additional 50,206 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of German American Bancorp by 1.6% during the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank's stock valued at $27,289,000 after purchasing an additional 11,386 shares during the period. Finally, German American Bancorp Inc. boosted its position in shares of German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock worth $19,918,000 after purchasing an additional 316,400 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors.
German American Bancorp Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider German American Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and German American Bancorp wasn't on the list.
While German American Bancorp currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
