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

German American Bancorp (NASDAQ:GABC) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $43.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 1.05% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Stephens assumed coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price on the stock. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, German American Bancorp has an average rating of “Hold” and a consensus target price of $45.40.

German American Bancorp Stock Up 0.2 %

German American Bancorp stock opened at $45.52 on Wednesday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 16.41 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp has a twelve month low of $29.95 and a twelve month high of $47.08. The stock’s fifty day simple moving average is $42.00 and its 200-day simple moving average is $38.45.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. As a group, equities analysts expect that German American Bancorp will post 2.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after acquiring an additional 196,003 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of German American Bancorp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock worth $39,930,000 after purchasing an additional 14,478 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of German American Bancorp by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock valued at $36,988,000 after purchasing an additional 32,816 shares during the last quarter. State Street Corp boosted its position in shares of German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after purchasing an additional 50,206 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of German American Bancorp by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock valued at $27,289,000 after purchasing an additional 11,386 shares during the period. Institutional investors and hedge funds 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.