German American Bancorp (NASDAQ:GABC) Upgraded to Buy (B-) at Weiss Ratings

German American Bancorp (NASDAQ:GABC - Get Free Report) was upgraded by equities research analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler boosted their price target on shares of German American Bancorp from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.00.

German American Bancorp Trading Down 0.4%

German American Bancorp stock opened at $38.77 on Wednesday. The stock has a market cap of $1.45 billion, a P/E ratio of 14.74 and a beta of 0.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. German American Bancorp has a 1 year low of $32.75 and a 1 year high of $47.08. The firm's 50 day moving average price is $40.10 and its 200-day moving average price is $38.86.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm 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 11.59%. On average, equities analysts predict that German American Bancorp will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley acquired 882 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average cost of $37.95 per share, with a total value of $33,471.90. Following the completion of the purchase, the director directly owned 6,252 shares in the company, valued at $237,263.40. The trade was a 16.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 3,352 shares of company stock valued at $133,482 over the last ninety days. 6.16% of the stock is owned by corporate insiders.

Institutional Trading of German American Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in German American Bancorp by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,185 shares of the bank's stock worth $912,000 after acquiring an additional 2,704 shares during the period. KBC Group NV bought a new position in German American Bancorp in the first quarter worth about $55,000. Swiss National Bank increased its holdings in shares of German American Bancorp by 12.3% during the first quarter. Swiss National Bank now owns 65,550 shares of the bank's stock valued at $2,458,000 after acquiring an additional 7,200 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in shares of German American Bancorp during the first quarter valued at about $254,000. Finally, Cerity Partners LLC increased its holdings in shares of German American Bancorp by 4.5% during the first quarter. Cerity Partners LLC now owns 27,423 shares of the bank's stock valued at $1,028,000 after acquiring an additional 1,176 shares in the last quarter. 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.

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