Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for German American Bancorp (NASDAQ:GABC) Stock

German American Bancorp (NASDAQ:GABC) had its target price raised by equities researchers at Keefe, Bruyette & Woods from $43.00 to $46.00 in a research report issued on Wednesday,Benzinga reports. The firm currently 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 stock’s current price.

A number of other research analysts have also recently commented on the stock. Stephens began coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price on the stock. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $48.00 in a research note 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.40.

German American Bancorp Stock Performance

German American Bancorp stock traded up $0.09 during trading hours on Wednesday, hitting $44.92. The stock had a trading volume of 17,820 shares, compared to its average volume of 101,821. The company has a market cap of $1.33 billion, a PE ratio of 16.22 and a beta of 0.63. The company has a quick ratio of 0.81, a current 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 two-hundred day moving average of $38.41. German American Bancorp has a fifty-two week low of $29.61 and a fifty-two week high of $47.08.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data 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. The business had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. On average, equities research analysts anticipate that German American Bancorp will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On German American Bancorp

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of German American Bancorp by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank’s stock worth $1,040,000 after acquiring an additional 2,326 shares during the last quarter. Chatham Capital Group Inc. grew its position in shares of German American Bancorp by 1.7% during the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock worth $1,779,000 after acquiring an additional 840 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in German American Bancorp by 3.6% during the second quarter. Wedge Capital Management L L P NC now owns 116,277 shares of the bank’s stock valued at $4,110,000 after buying an additional 4,076 shares in the last quarter. Pettinga Financial Advisors LLC boosted its position in shares of German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after acquiring an additional 443 shares during the period. Finally, Bank of New York Mellon Corp increased its position in German American Bancorp by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank’s stock worth $7,166,000 after purchasing an additional 8,028 shares during the period. 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.