German American Bancorp (NASDAQ:GABC) Price Target Raised to $44.00 at Piper Sandler

German American Bancorp (NASDAQ:GABC) had its target price lifted by analysts at Piper Sandler from $34.00 to $44.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price points to a potential upside of 15.58% from the stock’s current price.

A number of other brokerages also recently issued reports on GABC. StockNews.com downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Raymond James lifted their price objective on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Hovde Group lifted their price objective on shares of German American Bancorp from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.67.

German American Bancorp Stock Down 3.2 %

Shares of German American Bancorp stock traded down $1.27 on Thursday, reaching $38.07. The stock had a trading volume of 39,858 shares, compared to its average volume of 113,474. The company has a 50 day moving average price of $34.89 and a 200 day moving average price of $33.36. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. German American Bancorp has a 1 year low of $24.85 and a 1 year high of $42.78. The stock has a market capitalization of $1.13 billion, a P/E ratio of 13.36 and a beta of 0.62.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. German American Bancorp had a net margin of 24.44% and a return on equity of 13.33%. The firm had revenue of $84.08 million for the quarter, compared to the consensus estimate of $61.05 million. As a group, equities research analysts forecast that German American Bancorp will post 2.5 EPS for the current year.

Hedge Funds Weigh In On German American Bancorp

Several institutional investors have recently made changes to their positions in GABC. Vanguard Group Inc. increased its holdings in shares of German American Bancorp by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,638,166 shares of the bank’s stock valued at $44,378,000 after purchasing an additional 6,828 shares in the last quarter. SG Americas Securities LLC purchased a new stake in German American Bancorp in the 4th quarter worth $142,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in German American Bancorp by 8.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,885 shares of the bank’s stock worth $418,000 after acquiring an additional 961 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in German American Bancorp by 22.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 114,091 shares of the bank’s stock worth $3,698,000 after acquiring an additional 21,174 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in German American Bancorp by 37.5% in the 4th quarter. Russell Investments Group Ltd. now owns 92,827 shares of the bank’s stock worth $3,009,000 after acquiring an additional 25,338 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.