German American Bancorp. (NASDAQ:GABC) Reaches New 52-Week High at $34.93

Shares of German American Bancorp., Inc. (NASDAQ:GABC) reached a new 52-week high during trading on Thursday . The stock traded as high as $34.93 and last traded at $34.93, with a volume of 420 shares trading hands. The stock had previously closed at $34.11.

A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Zacks Investment Research downgraded shares of German American Bancorp. from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st.

The stock has a market capitalization of $899.03 million, a price-to-earnings ratio of 16.27 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $33.50 and its 200-day simple moving average is $31.23.

German American Bancorp. (NASDAQ:GABC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04). The firm had revenue of $50.63 million for the quarter, compared to analyst estimates of $47.20 million. German American Bancorp. had a return on equity of 11.68% and a net margin of 25.57%. On average, analysts expect that German American Bancorp., Inc. will post 2.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.95%. German American Bancorp.’s payout ratio is 31.78%.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in German American Bancorp. by 3.9% during the second quarter. BlackRock Inc. now owns 1,659,282 shares of the bank’s stock worth $49,977,000 after buying an additional 62,219 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of German American Bancorp. by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,059,305 shares of the bank’s stock valued at $31,907,000 after purchasing an additional 81,740 shares in the last quarter. Northern Trust Corp boosted its stake in shares of German American Bancorp. by 1.0% in the 2nd quarter. Northern Trust Corp now owns 426,690 shares of the bank’s stock valued at $12,852,000 after purchasing an additional 4,086 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of German American Bancorp. by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 325,050 shares of the bank’s stock valued at $9,791,000 after purchasing an additional 38,000 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of German American Bancorp. by 115.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 186,893 shares of the bank’s stock valued at $5,629,000 after purchasing an additional 99,983 shares in the last quarter. Hedge funds and other institutional investors own 41.51% of the company’s stock.

About German American Bancorp. (NASDAQ:GABC)

German American Bancorp, Inc operates as the bank holding company for German American Bancorp that provides retail and commercial banking services. The company operates through three segments: Core Banking, Trust and Investment Advisory Services, and Insurance Operations. The Core Banking segment accepts various 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.

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