German American Bancorp (NASDAQ:GABC) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

German American Bancorp, Inc. (NASDAQ:GABC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.59 and traded as high as $41.65. German American Bancorp shares last traded at $41.46, with a volume of 118,920 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of German American Bancorp in a report on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.50.

German American Bancorp Stock Up 0.3%

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $39.42 and its 200-day moving average price is $39.59. The company has a market cap of $1.55 billion, a P/E ratio of 14.50 and a beta of 0.67.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Wednesday, September 7th. The bank reported $0.81 earnings per share for the quarter. The business had revenue of $64.78 million for the quarter. German American Bancorp had a return on equity of 11.85% and a net margin of 22.19%. As a group, research analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, November 10th. German American Bancorp’s dividend payout ratio is presently 40.56%.

Institutional Trading of German American Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of GABC. State of Alaska Department of Revenue acquired a new position in German American Bancorp during the third quarter worth $58,000. Indiana Trust & Investment Management Co bought a new stake in shares of German American Bancorp during the third quarter worth about $68,000. Quadrant Capital Group LLC acquired a new stake in shares of German American Bancorp in the 3rd quarter worth about $72,000. MAI Capital Management lifted its position in German American Bancorp by 2,605.9% in the 3rd quarter. MAI Capital Management now owns 2,300 shares of the bank’s stock valued at $90,000 after acquiring an additional 2,215 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in German American Bancorp by 4,548.3% during the 2nd quarter. Allworth Financial LP now owns 2,696 shares of the bank’s stock valued at $104,000 after purchasing an additional 2,638 shares during the last quarter. 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.