Hovde Group Increases German American Bancorp (NASDAQ:GABC) Price Target to $34.00

German American Bancorp (NASDAQ:GABCGet Free Report) had its price objective hoisted by equities research analysts at Hovde Group from $33.00 to $34.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a “market perform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential upside of 7.42% from the stock’s current price.

Separately, Piper Sandler lifted their price target on shares of German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.33.

Check Out Our Latest Stock Analysis on German American Bancorp

German American Bancorp Stock Performance

NASDAQ GABC opened at $31.65 on Friday. The company has a fifty day simple moving average of $32.69 and a 200 day simple moving average of $32.19. German American Bancorp has a 12-month low of $24.85 and a 12-month high of $34.96. 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 market cap of $939.06 million, a P/E ratio of 11.11 and a beta of 0.64.

German American Bancorp (NASDAQ:GABCGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. German American Bancorp had a net margin of 25.83% and a return on equity of 13.68%. The business had revenue of $84.08 million during the quarter, compared to the consensus estimate of $61.05 million. Sell-side analysts predict that German American Bancorp will post 2.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Diane B. Medley acquired 1,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $33.64 per share, with a total value of $33,640.00. Following the acquisition, the director now directly owns 3,660 shares of the company’s stock, valued at $123,122.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 1,079 shares of company stock valued at $36,222 in the last three months. 6.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On German American Bancorp

A number of hedge funds have recently bought and sold shares of GABC. Teacher Retirement System of Texas bought a new stake in shares of German American Bancorp during the 3rd quarter worth $279,000. Victory Capital Management Inc. raised its stake in shares of German American Bancorp by 6.0% during the 3rd quarter. Victory Capital Management Inc. now owns 29,609 shares of the bank’s stock worth $802,000 after purchasing an additional 1,683 shares during the period. Swiss National Bank raised its stake in shares of German American Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 65,050 shares of the bank’s stock worth $1,762,000 after purchasing an additional 800 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of German American Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,300 shares of the bank’s stock worth $6,022,000 after purchasing an additional 13,591 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of German American Bancorp by 16.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 89,438 shares of the bank’s stock worth $2,423,000 after purchasing an additional 12,442 shares during the period. 46.90% of the stock is owned by hedge funds and other institutional investors.

About German American Bancorp

(Get Free Report)

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.

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