German American Bancorp (NASDAQ:GABC) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded German American Bancorp to “strong buy” from “hold.” Analysts’ overall rating is “Buy,” with a consensus price target of $53.33.
• The bank reported quarterly EPS of $1.03, beating the $1.01 consensus estimate, and revenue of $103.68 million, above expectations of $102.65 million.
• GABC shares were down 1.3% in Monday trading, opening at $49.60.

German American Bancorp (NASDAQ:GABC - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of German American Bancorp from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of German American Bancorp from $47.00 to $51.00 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Raymond James Financial started coverage on German American Bancorp in a report on Wednesday, July 8th. They issued a "hold" rating on the stock. Piper Sandler reiterated an "overweight" rating and issued a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. Finally, Wall Street Zen raised German American Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $53.33.

German American Bancorp Trading Down 1.3%

Shares of GABC stock opened at $49.60 on Monday. The company's 50-day moving average price is $49.42 and its 200-day moving average price is $45.76. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 12.78 and a beta of 0.62. German American Bancorp has a twelve month low of $37.73 and a twelve month high of $52.23.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The bank reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. German American Bancorp had a net margin of 28.78% and a return on equity of 12.33%. The firm had revenue of $103.68 million during the quarter, compared to analysts' expectations of $102.65 million. As a group, equities analysts predict that German American Bancorp will post 3.95 earnings per share for the current year.

Institutional Investors Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in GABC. USA Financial Formulas acquired a new position in German American Bancorp during the 3rd quarter worth about $40,000. Parallel Advisors LLC grew its position in German American Bancorp by 220.7% in the 1st quarter. Parallel Advisors LLC now owns 1,347 shares of the bank's stock valued at $56,000 after acquiring an additional 927 shares in the last quarter. Allworth Financial LP purchased a new stake in German American Bancorp during the second quarter worth about $133,000. Field & Main Bank purchased a new stake in German American Bancorp during the second quarter worth about $142,000. Finally, Quantbot Technologies LP acquired a new stake in shares of German American Bancorp during the second quarter worth about $143,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides banking, wealth management, and insurance services to individuals, families, farmers, and businesses.

German American Bank offers deposit accounts, residential and commercial real estate loans, agricultural financing, commercial loans, consumer loans, mortgage services, and other traditional banking products. Its wealth management operations provide trust administration, investment management, financial planning, and related services, while its insurance business offers personal and commercial insurance products.

Founded in 1910, German American Bancorp has built a community banking franchise serving southern Indiana and neighboring communities in Kentucky and Ohio.

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