German American Bancorp (NASDAQ:GABC) Upgraded at Hovde Group

German American Bancorp (NASDAQ:GABC) was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, Briefing.com reports. The brokerage currently has a $48.00 price objective on the bank’s stock, up from their prior price objective of $41.00. Hovde Group’s price target would suggest a potential upside of 19.31% from the company’s current price.

A number of other brokerages have also issued reports on GABC. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Raymond James lifted their price objective on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price for the company. Finally, Piper Sandler raised their price target on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, German American Bancorp has a consensus rating of “Hold” and an average target price of $45.25.

German American Bancorp Stock Down 1.1 %

Shares of NASDAQ:GABC opened at $40.23 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.19 billion, a P/E ratio of 14.12 and a beta of 0.61. German American Bancorp has a 52-week low of $24.85 and a 52-week high of $42.78. The stock’s fifty day simple moving average is $39.27 and its 200-day simple moving average is $36.27.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. As a group, equities research analysts forecast that German American Bancorp will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley acquired 710 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $36.37 per share, for a total transaction of $25,822.70. Following the acquisition, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other German American Bancorp news, Director Thomas W. Seger bought 3,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $36.80 per share, with a total value of $110,400.00. Following the purchase, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane B. Medley acquired 710 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the transaction, the director now directly owns 4,370 shares of the company’s stock, valued at $158,936.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,732 shares of company stock worth $137,119 in the last quarter. 6.16% of the stock is owned by insiders.

Hedge Funds Weigh In On German American Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pettinga Financial Advisors LLC lifted its position in shares of German American Bancorp by 6.5% during the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after purchasing an additional 443 shares in the last quarter. Chatham Capital Group Inc. boosted its position in German American Bancorp by 1.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock valued at $1,779,000 after buying an additional 840 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in German American Bancorp by 5.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after buying an additional 1,097 shares during the last quarter. Rhumbline Advisers grew its stake in shares of German American Bancorp by 2.6% during the second quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock valued at $1,697,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. increased its position in shares of German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock worth $2,419,000 after acquiring an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Company Profile

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.