German American Bancorp (NASDAQ:GABC) Price Target Raised to $46.00

German American Bancorp (NASDAQ:GABC) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $43.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 2.40% from the company’s previous close.

GABC has been the topic of several other research reports. Stephens assumed coverage on German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price target on the stock. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $41.00 to $48.00 in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.40.

German American Bancorp Stock Performance

Shares of GABC stock traded up $0.09 during trading hours on Wednesday, hitting $44.92. The company’s stock had a trading volume of 17,820 shares, compared to its average volume of 101,821. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $41.86 and a 200 day moving average of $38.41. The stock has a market cap of $1.33 billion, a PE ratio of 16.22 and a beta of 0.63. German American Bancorp has a 12-month low of $29.61 and a 12-month high of $47.08.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. The business had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.80 million. On average, sell-side analysts forecast that German American Bancorp will post 2.76 EPS for the current fiscal year.

Institutional Trading of German American Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC lifted its position in shares of German American Bancorp by 1.1% in the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after purchasing an additional 323 shares in the last quarter. BNP Paribas Financial Markets increased its stake in German American Bancorp by 6.2% in the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after purchasing an additional 365 shares in the last quarter. Pettinga Financial Advisors LLC boosted its stake in shares of German American Bancorp by 6.5% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after purchasing an additional 443 shares in the last quarter. Chatham Capital Group Inc. boosted its holdings in shares of German American Bancorp by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock worth $1,779,000 after buying an additional 840 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its position in German American Bancorp by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock worth $799,000 after purchasing an additional 1,097 shares during the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

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.