German American Bancorp, Inc. (NASDAQ:GABC) to Issue $0.27 Quarterly Dividend

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) declared a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Sunday, November 10th will be paid a dividend of 0.27 per share by the bank on Wednesday, November 20th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, November 8th.

German American Bancorp has raised its dividend payment by an average of 9.6% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. German American Bancorp has a payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect German American Bancorp to earn $2.95 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 36.6%.

German American Bancorp Stock Up 2.6 %

NASDAQ:GABC traded up $1.04 during midday trading on Wednesday, reaching $41.27. 112,458 shares of the stock traded hands, compared to its average volume of 103,282. The stock has a market capitalization of $1.22 billion, a PE ratio of 14.55 and a beta of 0.61. German American Bancorp has a 12-month low of $24.85 and a 12-month high of $42.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50-day moving average of $39.27 and a two-hundred day moving average of $36.27.

German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The firm had revenue of $62.40 million during the quarter, compared to analyst estimates of $62.80 million. On average, equities analysts forecast that German American Bancorp will post 2.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GABC. Stephens began coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price objective for the company. StockNews.com downgraded shares of German American Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th. Raymond James raised their target price on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Piper Sandler upped their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Finally, Hovde Group upgraded German American Bancorp from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $41.00 to $48.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.25.

Insider Activity

In related news, Director Thomas W. Seger purchased 3,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $36.80 per share, with a total value of $110,400.00. Following the purchase, the director now owns 484,342 shares of the company's stock, valued at $17,823,785.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Thomas W. Seger purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $36.80 per share, with a total value of $110,400.00. Following the purchase, the director now owns 484,342 shares of the company's stock, valued at $17,823,785.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diane B. Medley bought 710 shares of German American Bancorp stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $36.37 per share, with a total value of $25,822.70. Following the acquisition, the director now directly owns 4,370 shares of the company's stock, valued at approximately $158,936.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 3,732 shares of company stock worth $137,119 over the last three months. 6.16% of the stock is currently owned by corporate insiders.

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.