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

German American Bancorp, Inc. (NASDAQ:GABC) announced a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders 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 dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 8th.

German American Bancorp has increased its dividend payment by an average of 9.6% annually over the last three years and has raised its dividend every year for the last 12 years. German American Bancorp has a dividend payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 12.8 %

NASDAQ GABC opened at $46.57 on Thursday. The firm’s fifty day moving average price is $39.53 and its 200 day moving average price is $36.65. German American Bancorp has a 12 month low of $27.23 and a 12 month high of $46.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. The company 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 (NASDAQ:GABC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. German American Bancorp had a return on equity of 12.27% and a net margin of 23.75%. The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. On average, sell-side analysts expect that German American Bancorp will post 2.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on GABC. StockNews.com lowered German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Raymond James lifted their target price on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler increased their price target 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. Stephens assumed coverage on shares of 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, Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.25.

Insider Activity at German American Bancorp

In other news, Director Thomas W. Seger acquired 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was bought at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the transaction, the director now owns 484,342 shares in the company, valued at $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.59% of the stock is currently owned by insiders.

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.