German American Bancorp (NASDAQ:GABC) Upgraded by Hovde Group to Outperform Rating

German American Bancorp (NASDAQ:GABC - Get Free Report) was upgraded by research analysts at Hovde Group from a "market perform" rating to an "outperform" rating in a report issued on Wednesday, Marketbeat.com reports. The firm presently has a $48.00 target price on the bank's stock, up from their prior target price of $41.00. Hovde Group's target price points to a potential upside of 16.31% from the stock's previous close.

GABC has been the topic of a number of other research reports. StockNews.com downgraded shares of German American Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th. Raymond James raised their target price on German American Bancorp from $40.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Piper Sandler boosted their price target on German American Bancorp from $34.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Finally, Stephens began coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $45.25.

German American Bancorp Stock Up 2.6 %

GABC traded up $1.04 during trading on Wednesday, hitting $41.27. 112,460 shares of the company's stock traded hands, compared to its average volume of 103,282. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.55 and a beta of 0.61. The company's 50 day simple moving average is $39.27 and its two-hundred day simple moving average is $36.27. German American Bancorp has a 12-month low of $24.85 and a 12-month high of $42.78. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released 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 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 analysts' expectations of $62.80 million. Analysts predict that German American Bancorp will post 2.7 earnings per share for the current fiscal year.

Insider Activity at German American Bancorp

In other news, Director Thomas W. Seger bought 3,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now owns 484,342 shares in the company, valued at $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other German American Bancorp news, Director Thomas W. Seger purchased 3,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were bought 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 in the company, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diane B. Medley acquired 710 shares of German American Bancorp stock in a transaction dated 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 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. In the last ninety days, insiders purchased 3,732 shares of company stock worth $137,119. 6.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On German American Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Pettinga Financial Advisors LLC lifted its stake in shares of German American Bancorp by 6.5% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank's stock valued at $258,000 after purchasing an additional 443 shares during the last quarter. Chatham Capital Group Inc. lifted its stake in German American Bancorp by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank's stock worth $1,779,000 after purchasing an additional 840 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of German American Bancorp by 5.6% during the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank's stock valued at $799,000 after buying an additional 1,097 shares during the period. Rhumbline Advisers grew its stake in shares of German American Bancorp by 2.6% during the second quarter. Rhumbline Advisers now owns 47,992 shares of the bank's stock valued at $1,697,000 after buying an additional 1,214 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. increased its stake in German American Bancorp by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank's stock worth $2,419,000 after purchasing an additional 1,290 shares during the period. Hedge funds and other institutional investors own 46.90% of the company's stock.

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.