German American Bancorp (NASDAQ:GABC) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• German American Bancorp shares rose above their 200-day moving average, trading near $49.91 versus the $45.48 average, signaling improved technical momentum.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $53.33; Piper Sandler raised its target to $60.
• The bank exceeded quarterly earnings expectations, reporting $1.02 in EPS versus $0.92 expected, and pays a $1.24 annualized dividend yielding about 2.5%.

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.48 and traded as high as $50.51. German American Bancorp shares last traded at $49.91, with a volume of 166,419 shares.

Analysts Set New Price Targets

GABC has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Piper Sandler reiterated an "overweight" rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a research note on Thursday, July 30th. Weiss Ratings lowered German American Bancorp from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, September 1st. Raymond James Financial assumed coverage on German American Bancorp in a research note on Wednesday, July 8th. They issued a "hold" rating on the stock. Finally, Keefe, Bruyette & Woods raised their price target on German American Bancorp from $47.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.33.

German American Bancorp Price Performance

The company has a market capitalization of $1.88 billion, a PE ratio of 13.17 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50 day simple moving average is $49.51 and its 200 day simple moving average is $45.48.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The bank reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. The company had revenue of $99.95 million for the quarter, compared to analysts' expectations of $99.22 million. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. As a group, sell-side analysts predict that German American Bancorp, Inc. will post 3.86 earnings per share for the current year.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 10th. German American Bancorp's dividend payout ratio (DPR) is currently 32.72%.

Institutional Investors Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of GABC. Legal & General Group Plc acquired a new position in German American Bancorp during the second quarter worth approximately $1,465,000. Dimensional Fund Advisors LP boosted its holdings in shares of German American Bancorp by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank's stock valued at $50,982,000 after acquiring an additional 31,627 shares during the period. Glenview Trust Co boosted its holdings in shares of German American Bancorp by 394.8% in the first quarter. Glenview Trust Co now owns 37,770 shares of the bank's stock valued at $1,578,000 after acquiring an additional 30,137 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of German American Bancorp during the second quarter worth approximately $14,364,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of German American Bancorp during the second quarter worth approximately $10,440,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides a range of banking and financial services to individuals, families, farmers, businesses and other organizations.

Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.

German American Bancorp traces its history to the founding of German American Bank in 1910.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.