German American Bancorp (NASDAQ:GABC) Upgraded at Wall Street Zen

Key Points

• German American Bancorp was upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the stock.
• Piper Sandler raised the price target for German American Bancorp shares from $42.00 to $44.00, maintaining a "neutral" rating, with an average price target currently at $46.00.
• The bank reported quarterly earnings of $0.86 per share, exceeding estimates, but its revenue of $91.16 million fell short of analyst expectations of $91.93 million.

German American Bancorp (NASDAQ:GABC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Separately, Piper Sandler lifted their target price on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.00.

German American Bancorp Stock Performance

German American Bancorp stock traded up $0.50 during midday trading on Friday, hitting $38.41. The stock had a trading volume of 154,652 shares, compared to its average volume of 135,400. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. German American Bancorp has a 52-week low of $32.75 and a 52-week high of $47.08. The firm's fifty day moving average is $39.08 and its two-hundred day moving average is $38.67. The company has a market capitalization of $1.44 billion, a PE ratio of 14.60 and a beta of 0.62.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $0.86 earnings per share (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 company had revenue of $91.16 million during the quarter, compared to the consensus estimate of $91.93 million. On average, research analysts forecast that German American Bancorp will post 3.06 EPS for the current year.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total value of $99,468.25. Following the sale, the director owned 11,673 shares in the company, valued at approximately $461,667.15. This represents a 17.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Diane B. Medley acquired 882 shares of the stock in a transaction on Monday, August 4th. The stock was bought at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the transaction, the director owned 6,252 shares in the company, valued at approximately $237,263.40. This represents a 16.42% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 3,667 shares of company stock worth $145,550. Insiders own 4.59% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GABC. Vanguard Group Inc. raised its stake in German American Bancorp by 20.4% in the 1st quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock valued at $79,004,000 after purchasing an additional 357,360 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in German American Bancorp by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,140,813 shares of the bank's stock valued at $45,884,000 after purchasing an additional 8,659 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in German American Bancorp by 11.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,170 shares of the bank's stock valued at $41,594,000 after purchasing an additional 109,789 shares during the last quarter. Raymond James Financial Inc. acquired a new position in German American Bancorp in the 1st quarter valued at $19,336,000. Finally, L.M. Kohn & Company grew its holdings in German American Bancorp by 34.7% in the 1st quarter. L.M. Kohn & Company now owns 490,458 shares of the bank's stock valued at $18,392,000 after buying an additional 126,236 shares in the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

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.