Piper Sandler Cuts German American Bancorp (NASDAQ:GABC) Price Target to $42.00

German American Bancorp (NASDAQ:GABC) had its target price cut by Piper Sandler from $44.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised their target price on German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, German American Bancorp currently has a consensus rating of “Hold” and an average target price of $45.20.

German American Bancorp Stock Up 2.5 %

Shares of NASDAQ:GABC opened at $38.85 on Thursday. The company has a 50 day moving average of $37.29 and a 200-day moving average of $40.21. German American Bancorp has a one year low of $31.06 and a one year high of $47.08. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.78 and a beta of 0.61. 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 (NASDAQ:GABC) last issued its earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.72 by $0.07. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. The company had revenue of $81.41 million during the quarter, compared to analysts’ expectations of $79.60 million. On average, sell-side analysts forecast that German American Bancorp will post 3.06 earnings per share for the current year.

German American Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th will be paid a $0.29 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.16 dividend on an annualized basis and a yield of 2.99%. German American Bancorp’s payout ratio is 46.77%.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the transaction, the director now owns 5,370 shares of the company’s stock, valued at $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 1,090 shares of company stock worth $42,697 over the last ninety days. 6.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On German American Bancorp

Several large investors have recently made changes to their positions in GABC. Barclays PLC boosted its stake in German American Bancorp by 577.6% in the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank’s stock worth $2,684,000 after purchasing an additional 59,048 shares during the period. Franklin Resources Inc. lifted its holdings in shares of German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after purchasing an additional 196,003 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of German American Bancorp during the third quarter worth about $597,000. JPMorgan Chase & Co. grew its holdings in shares of German American Bancorp by 154.6% during the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank’s stock worth $2,358,000 after buying an additional 36,954 shares in the last quarter. Finally, Ellsworth Advisors LLC acquired a new stake in German American Bancorp in the 4th quarter valued at approximately $577,000. 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.