Keefe, Bruyette & Woods Boosts German American Bancorp (NASDAQ:GABC) Price Target to $47.00

German American Bancorp (NASDAQ:GABC) had its price objective boosted by research analysts at Keefe, Bruyette & Woods from $46.00 to $47.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.48% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Piper Sandler cut their price target on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Finally, Stephens started coverage on German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.40.

German American Bancorp Stock Down 0.7 %

Shares of GABC stock traded down $0.28 during trading hours on Wednesday, reaching $41.42. The company had a trading volume of 13,146 shares, compared to its average volume of 85,599. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 14.95 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. German American Bancorp has a 12 month low of $30.66 and a 12 month high of $47.08. The business has a fifty day simple moving average of $41.87 and a 200-day simple moving average of $40.60.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. On average, research analysts expect that German American Bancorp will post 2.76 earnings per share for the current fiscal year.

Institutional Trading of German American Bancorp

A number of large investors have recently bought and sold shares of GABC. German American Bancorp Inc. lifted its position in shares of German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after buying an additional 316,400 shares during the last quarter. Franklin Resources Inc. raised its stake in German American Bancorp by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after acquiring an additional 196,003 shares during the period. Barclays PLC lifted its holdings in German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock valued at $2,684,000 after purchasing an additional 59,048 shares during the last quarter. State Street Corp boosted its position in German American Bancorp by 6.9% during the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock worth $29,941,000 after purchasing an additional 50,206 shares during the period. Finally, Royce & Associates LP increased its stake in shares of German American Bancorp by 43.3% in the third quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock worth $5,160,000 after purchasing an additional 40,219 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.