German American Bancorp, Inc. to Issue Quarterly Dividend of $0.27 (NASDAQ:GABC)

German American Bancorp, Inc. (NASDAQ:GABC) announced a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Sunday, November 10th will be paid a dividend of 0.27 per share by the bank on Wednesday, November 20th. This represents a $1.08 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, November 8th.

German American Bancorp has raised its dividend payment by an average of 9.6% per year over the last three years and has increased its dividend every year for the last 12 years. German American Bancorp has a payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect German American Bancorp to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 39.3%.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $46.57 on Thursday. The firm has a 50-day simple moving average of $39.53 and a 200-day simple moving average of $36.65. 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 stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 16.81 and a beta of 0.61. German American Bancorp has a 52 week low of $27.23 and a 52 week high of $46.58.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. German American Bancorp had a net margin of 23.75% and a return on equity of 12.27%. The company had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. On average, equities analysts predict that German American Bancorp will post 2.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on GABC. Stephens assumed coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target for the company. Piper Sandler boosted their price objective on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Raymond James increased their price objective on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.25.

Insider Buying and Selling

In other German American Bancorp news, Director Thomas W. Seger purchased 3,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.59% of the stock is owned by insiders.

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.