German American Bancorp (NASDAQ:GABC) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

German American Bancorp (NASDAQ:GABC - Get Free Report) released its quarterly earnings data on Monday. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.01, Yahoo Finance reports. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. The company had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million.

German American Bancorp Trading Down 1.1 %

Shares of GABC stock traded down $0.46 during mid-day trading on Tuesday, hitting $40.23. The company's stock had a trading volume of 52,803 shares, compared to its average volume of 103,238. The company's fifty day simple moving average is $39.27 and its 200-day simple moving average is $36.27. German American Bancorp has a 52 week low of $24.85 and a 52 week 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 company has a market cap of $1.19 billion, a PE ratio of 14.12 and a beta of 0.61.

Insider Transactions at German American Bancorp

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GABC shares. Piper Sandler raised their price objective on German American Bancorp from $34.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Raymond James lifted their target price on German American Bancorp from $40.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. StockNews.com downgraded German American Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th. Finally, Stephens began coverage on German American Bancorp in a report on Tuesday, October 15th. They set an "overweight" rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, German American Bancorp currently has a consensus rating of "Hold" and an average target price of $41.75.

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.