German American Bancorp (NASDAQ:GABC) Stock Breaks Above 200 Day Moving Average - Time to Sell?

Key Points

• German American Bancorp shares rose above their 200-day moving average, reaching $49.72 and closing the report at $48.82 versus a 200-day average of $46.10.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $53.33; Piper Sandler set the highest target at $60.
• The bank reported quarterly EPS of $1.02, beating estimates by $0.10, and maintains a quarterly dividend of $0.31 per share, equivalent to a 2.5% annual yield.

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $46.10 and traded as high as $49.72. German American Bancorp shares last traded at $48.82, with a volume of 127,246 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GABC shares. 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. Weiss Ratings upgraded German American Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, September 17th. Keefe, Bruyette & Woods upped 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. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $60.00 price target (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, German American Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.33.

German American Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. The stock's 50-day moving average is $49.83 and its 200 day moving average is $46.10. The firm has a market cap of $1.83 billion, a P/E ratio of 12.88 and a beta of 0.58.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The bank reported $1.02 EPS for the quarter, topping the consensus estimate of $0.92 by $0.10. German American Bancorp had a return on equity of 12.14% and a net margin of 28.25%.The business had revenue of $99.95 million for the quarter, compared to the consensus estimate of $99.22 million. On average, research analysts predict that German American Bancorp, Inc. will post 3.88 earnings per share for the current year.

German American Bancorp Dividend Announcement

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

Hedge Funds Weigh In On German American Bancorp

Several institutional investors have recently modified their holdings of GABC. BlackRock Inc. bought a new stake in German American Bancorp during the 2nd quarter worth approximately $142,155,000. German American Bancorp Inc. bought a new position in German American Bancorp in the second quarter valued at approximately $45,154,000. The Manufacturers Life Insurance Company bought a new position in German American Bancorp in the second quarter valued at approximately $14,364,000. Bank of New York Mellon Corp bought a new position in German American Bancorp in the second quarter valued at approximately $10,440,000. Finally, Bank of America Corp DE acquired a new position in shares of German American Bancorp in the second quarter valued at approximately $3,531,000. Institutional investors own 46.90% of the company's stock.

German American Bancorp Company Profile

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.

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