German American Bancorp (NASDAQ:GABC) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• German American Bancorp reported a quarterly earnings per share (EPS) of $0.86, exceeding the consensus estimate of $0.83 by $0.03.
• The stock has seen a moderate price increase, trading at $40.17, with a market capitalization of $1.51 billion and a PE ratio of 16.20.
• Several institutional investors have increased their stakes in German American Bancorp, with notable purchases from AQR Capital Management, which raised its position by 161.6%.

German American Bancorp (NASDAQ:GABC - Get Free Report) posted its earnings results on Monday. The bank reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03, Zacks reports. German American Bancorp had a return on equity of 11.53% and a net margin of 19.78%.

German American Bancorp Price Performance

Shares of NASDAQ GABC traded up $0.25 during midday trading on Monday, hitting $40.17. The stock had a trading volume of 96,340 shares, compared to its average volume of 136,000. The company has a market capitalization of $1.51 billion, a PE ratio of 16.20 and a beta of 0.59. The stock has a 50 day simple moving average of $39.05 and a 200-day simple moving average of $38.68. German American Bancorp has a 1 year low of $32.75 and a 1 year high of $47.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21.

Insider Buying and Selling at German American Bancorp

In related news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the transaction, the director owned 11,673 shares in the company, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 2,785 shares of company stock valued at $112,078 in the last quarter. Company insiders own 6.16% of the company's stock.

Hedge Funds Weigh In On German American Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in German American Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,932 shares of the bank's stock worth $635,000 after buying an additional 711 shares in the last quarter. AQR Capital Management LLC raised its position in German American Bancorp by 161.6% in the first quarter. AQR Capital Management LLC now owns 50,971 shares of the bank's stock valued at $1,911,000 after purchasing an additional 31,486 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of German American Bancorp by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,370 shares of the bank's stock valued at $2,076,000 after buying an additional 4,907 shares in the last quarter. Hedge funds and other institutional investors own 46.90% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on German American Bancorp from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, German American Bancorp presently has a consensus rating of "Hold" and an average target price of $45.20.

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.

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