German American Bancorp (NASDAQ:GABC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

German American Bancorp (NASDAQ:GABC - Get Free Report) had its target price increased by equities researchers at Piper Sandler from $42.00 to $44.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Piper Sandler's price target suggests a potential upside of 16.06% from the company's previous close.

German American Bancorp Stock Performance

Shares of GABC traded up $0.30 during mid-day trading on Thursday, hitting $37.91. 87,569 shares of the company traded hands, compared to its average volume of 127,544. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 14.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86. German American Bancorp has a 1 year low of $32.75 and a 1 year high of $47.08. The stock has a 50-day moving average price of $39.08 and a two-hundred day moving average price of $38.67.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. German American Bancorp had a return on equity of 12.40% and a net margin of 20.84%. The business had revenue of $91.16 million during the quarter, compared to analysts' expectations of $91.93 million. Equities analysts anticipate that German American Bancorp will post 3.06 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction 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 completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have bought 2,785 shares of company stock worth $112,078. Corporate insiders own 4.59% of the company's stock.

Institutional Trading of German American Bancorp

Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP lifted its holdings in shares of German American Bancorp by 10.8% in the 1st quarter. Quantbot Technologies LP now owns 3,272 shares of the bank's stock valued at $123,000 after buying an additional 320 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in German American Bancorp by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,666 shares of the bank's stock worth $1,150,000 after purchasing an additional 375 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in German American Bancorp by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank's stock worth $652,000 after purchasing an additional 536 shares during the period. PNC Financial Services Group Inc. raised its position in shares of German American Bancorp by 2.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 24,171 shares of the bank's stock worth $906,000 after acquiring an additional 546 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in German American Bancorp by 1.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 49,564 shares of the bank's stock worth $1,909,000 after buying an additional 589 shares during the period. 46.90% of the stock is owned by hedge funds and other institutional investors.

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.