German American Bancorp, Inc. (NASDAQ:GABC) Short Interest Up 7.6% in October

German American Bancorp, Inc. (NASDAQ:GABC) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,550,000 shares, an increase of 7.6% from the October 15th total of 1,440,000 shares. Based on an average daily trading volume, of 76,200 shares, the short-interest ratio is currently 20.3 days.

German American Bancorp Stock Down 0.4 %

GABC opened at $45.43 on Tuesday. German American Bancorp has a one year low of $27.23 and a one year high of $46.75. The company has a fifty day moving average price of $40.53 and a 200-day moving average price of $37.43. The firm has a market capitalization of $1.35 billion, a P/E ratio of 16.40 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 quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The firm had revenue of $62.40 million during the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. Equities research analysts expect that German American Bancorp will post 2.74 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Sunday, November 10th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a yield of 2.38%. German American Bancorp’s dividend payout ratio (DPR) is 38.99%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $48.00 in a research note on Wednesday, October 30th. StockNews.com lowered German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Stephens assumed coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, Raymond James upped their price objective 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 analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.25.

Institutional Trading of German American Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC lifted its holdings in German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after buying an additional 1,339 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of German American Bancorp in the 3rd quarter worth approximately $99,000. Renaissance Technologies LLC purchased a new position in shares of German American Bancorp in the 2nd quarter worth approximately $207,000. BNP Paribas Financial Markets grew its position in shares of German American Bancorp by 6.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after buying an additional 365 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of German American Bancorp in the 3rd quarter worth approximately $247,000. 46.90% of the stock is currently owned by 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.