German American Bancorp (NASDAQ:GABC) Raised to "Outperform" at Hovde Group

German American Bancorp (NASDAQ:GABC - Get Free Report) was upgraded by stock analysts at Hovde Group from a "market perform" rating to an "outperform" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $48.00 price target on the bank's stock, up from their previous price target of $41.00. Hovde Group's price target would indicate a potential upside of 15.63% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Raymond James boosted their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. StockNews.com cut shares of German American Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th. Stephens assumed coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They set an "overweight" rating and a $45.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $45.25.

German American Bancorp Trading Up 3.2 %

GABC traded up $1.28 on Wednesday, hitting $41.51. 45,564 shares of the company were exchanged, compared to its average volume of 102,964. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83. German American Bancorp has a 12 month low of $24.85 and a 12 month high of $42.78. The stock has a market capitalization of $1.23 billion, a PE ratio of 14.12 and a beta of 0.61. The firm has a fifty day simple moving average of $39.27 and a two-hundred day simple moving average of $36.27.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $62.80 million. Sell-side analysts expect that German American Bancorp will post 2.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Diane B. Medley bought 710 shares of the company's stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the purchase, the director now owns 4,370 shares in the company, valued at approximately $158,936.90. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas W. Seger bought 3,000 shares of the company's stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the purchase, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diane B. Medley acquired 710 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the transaction, the director now owns 4,370 shares of the company's stock, valued at $158,936.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,732 shares of company stock worth $137,119. 6.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GABC. Kennedy Capital Management LLC bought a new position in German American Bancorp during the first quarter valued at approximately $6,828,000. Mutual of America Capital Management LLC bought a new position in German American Bancorp during the second quarter valued at approximately $5,887,000. Wealth Enhancement Advisory Services LLC bought a new position in German American Bancorp during the first quarter valued at approximately $1,097,000. Hantz Financial Services Inc. bought a new position in German American Bancorp during the second quarter valued at approximately $1,034,000. Finally, LSV Asset Management lifted its position in German American Bancorp by 303.3% during the second quarter. LSV Asset Management now owns 29,300 shares of the bank's stock valued at $1,036,000 after purchasing an additional 22,035 shares during the period. Institutional investors own 46.90% of the company's stock.

German American Bancorp Company Profile

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.