German American Bancorp (NASDAQ:GABC) Stock Crosses Above Two Hundred Day Moving Average of $31.59

German American Bancorp, Inc. (NASDAQ:GABC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.59 and traded as high as $32.47. German American Bancorp shares last traded at $32.31, with a volume of 80,466 shares traded.

Analyst Upgrades and Downgrades

GABC has been the subject of several research reports. Raymond James lifted their target price on German American Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Piper Sandler boosted their price objective on German American Bancorp from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st.

German American Bancorp Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The company has a market cap of $955.73 million, a price-to-earnings ratio of 11.34 and a beta of 0.64. The stock has a 50 day moving average price of $32.67 and a two-hundred day moving average price of $31.59.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, April 29th. The bank reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $84.08 million for the quarter, compared to analyst estimates of $61.05 million. German American Bancorp had a return on equity of 13.98% and a net margin of 25.83%. Analysts predict that German American Bancorp, Inc. will post 2.53 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, May 9th. German American Bancorp’s dividend payout ratio is currently 37.89%.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley purchased 1,000 shares of German American Bancorp stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $33.64 per share, with a total value of $33,640.00. Following the completion of the transaction, the director now directly owns 3,660 shares in the company, valued at approximately $123,122.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders bought 1,107 shares of company stock valued at $37,113. Corporate insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On German American Bancorp

Several large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC grew its position in shares of German American Bancorp by 43.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 20,675 shares of the bank’s stock valued at $560,000 after purchasing an additional 6,248 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of German American Bancorp by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 192,497 shares of the bank’s stock valued at $5,215,000 after buying an additional 2,958 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of German American Bancorp during the third quarter worth $279,000. Victory Capital Management Inc. raised its holdings in shares of German American Bancorp by 6.0% during the third quarter. Victory Capital Management Inc. now owns 29,609 shares of the bank’s stock worth $802,000 after acquiring an additional 1,683 shares during the period. Finally, L.M. Kohn & Company bought a new stake in German American Bancorp in the 3rd quarter valued at $15,429,000. 46.90% of the stock is currently owned by institutional investors.

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.