German American Bancorp, Inc. (NASDAQ:GABC) Declares Quarterly Dividend of $0.29

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) declared a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Stockholders of record on Saturday, May 10th will be given a dividend of 0.29 per share by the bank on Tuesday, May 20th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, May 9th.

German American Bancorp has a payout ratio of 31.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect German American Bancorp to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 31.7%.

German American Bancorp Stock Up 2.6 %

NASDAQ:GABC traded up $0.96 during trading hours on Tuesday, reaching $37.73. The company's stock had a trading volume of 144,166 shares, compared to its average volume of 108,706. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.41 billion, a P/E ratio of 13.38 and a beta of 0.61. The stock has a 50 day moving average price of $37.40 and a two-hundred day moving average price of $40.27. German American Bancorp has a 12 month low of $31.06 and a 12 month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The bank reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.07. The firm had revenue of $81.41 million during the quarter, compared to analysts' expectations of $79.60 million. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. Equities analysts predict that German American Bancorp will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Diane B. Medley bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the acquisition, the director now directly owns 5,370 shares of the company's stock, valued at $210,557.70. This trade represents a 22.88 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 1,090 shares of company stock worth $42,697 in the last 90 days. Insiders own 6.16% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GABC shares. Piper Sandler reduced their price objective on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, German American Bancorp has an average rating of "Hold" and a consensus price target of $46.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.