Piper Sandler Forecasts Strong Price Appreciation for German American Bancorp (NASDAQ:GABC) Stock

Key Points

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German American Bancorp (NASDAQ:GABC - Get Free Report) had its price target raised by Piper Sandler from $42.00 to $44.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. Piper Sandler's target price indicates a potential upside of 16.99% from the stock's previous close.

German American Bancorp Trading Down 2.1%

Shares of German American Bancorp stock traded down $0.81 during trading on Thursday, hitting $37.61. The company's stock had a trading volume of 130,268 shares, compared to its average volume of 121,031. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 14.30 and a beta of 0.62. The stock has a 50-day moving average price of $39.08 and a two-hundred day moving average price of $38.70. German American Bancorp has a 52 week low of $32.75 and a 52 week high of $47.08.

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, beating analysts' consensus estimates of $0.83 by $0.03. The business had revenue of $91.16 million for the quarter, compared to analysts' expectations of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 12.40%. Equities research analysts anticipate that German American Bancorp will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On German American Bancorp

Several institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP raised its holdings in shares of German American Bancorp by 10.8% during the first quarter. Quantbot Technologies LP now owns 3,272 shares of the bank's stock valued at $123,000 after purchasing an additional 320 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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 valued at $1,150,000 after purchasing an additional 375 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of German American Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank's stock valued at $652,000 after purchasing an additional 536 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of German American Bancorp by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 24,171 shares of the bank's stock valued at $906,000 after purchasing an additional 546 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of 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 valued at $1,909,000 after purchasing an additional 589 shares during the period. Institutional investors and hedge funds 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.