German American Bancorp (NASDAQ:GABC) Releases Earnings Results, Beats Expectations By $0.01 EPS

German American Bancorp (NASDAQ:GABC) posted its earnings results on Monday. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01, Yahoo Finance reports. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. The company had revenue of $62.40 million during the quarter, compared to the consensus estimate of $62.80 million.

German American Bancorp Price Performance

German American Bancorp stock traded up $1.04 during midday trading on Wednesday, reaching $41.27. The company’s stock had a trading volume of 112,460 shares, compared to its average volume of 103,282. German American Bancorp has a 52 week low of $24.85 and a 52 week high of $42.78. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $39.32 and a 200-day moving average price of $36.31. The stock has a market cap of $1.22 billion, a PE ratio of 14.48 and a beta of 0.61.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, November 8th. German American Bancorp’s dividend payout ratio is presently 37.89%.

Insider Buying and Selling at German American Bancorp

In other German American Bancorp news, Director Thomas W. Seger bought 3,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Thomas W. Seger purchased 3,000 shares of German American Bancorp stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the acquisition, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane B. Medley purchased 710 shares of German American Bancorp stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the acquisition, the director now owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,732 shares of company stock worth $137,119 over the last 90 days. Insiders own 6.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GABC. Piper Sandler lifted their target price on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens began coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target for the company. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $41.00 to $48.00 in a research note on Wednesday. Finally, Raymond James boosted their price target on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, German American Bancorp currently has an average rating of “Hold” and a consensus price target of $45.25.

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.