German American Bancorp (NASDAQ:GABC) Sets New 1-Year High at $35.00

Shares of German American Bancorp, Inc. (NASDAQ:GABC) reached a new 52-week high on Thursday . The company traded as high as $35.00 and last traded at $35.00, with a volume of 71320 shares trading hands. The stock had previously closed at $34.17.

Analyst Ratings Changes

Separately, Hovde Group increased their price target on German American Bancorp from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.33.

German American Bancorp Price Performance

The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 12.40 and a beta of 0.62. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $32.62 and a 200 day moving average of $32.58.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, April 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. The firm had revenue of $84.08 million during the quarter, compared to analysts’ expectations of $61.05 million. German American Bancorp had a return on equity of 13.68% and a net margin of 25.83%. Equities research analysts predict that German American Bancorp, Inc. will post 2.51 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, May 9th. German American Bancorp’s dividend payout ratio (DPR) is presently 37.89%.

Hedge Funds Weigh In On German American Bancorp

Several hedge funds have recently modified their holdings of GABC. Charles Schwab Investment Management Inc. grew its holdings in shares of German American Bancorp by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,300 shares of the bank’s stock valued at $6,022,000 after acquiring an additional 13,591 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of German American Bancorp by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,638,166 shares of the bank’s stock valued at $44,378,000 after acquiring an additional 6,828 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of German American Bancorp in the 4th quarter valued at about $142,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in German American Bancorp by 8.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,885 shares of the bank’s stock worth $418,000 after purchasing an additional 961 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in German American Bancorp by 22.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 114,091 shares of the bank’s stock worth $3,698,000 after purchasing an additional 21,174 shares during the period. Institutional investors own 46.90% of the company’s stock.

About German American Bancorp

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.