German American Bancorp (NASDAQ:GABC) Posts Quarterly Earnings Results, Hits Estimates

German American Bancorp (NASDAQ:GABC) released its earnings results on Monday. The bank reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64, Yahoo Finance reports. The business had revenue of $84.08 million for the quarter, compared to the consensus estimate of $61.05 million. German American Bancorp had a return on equity of 13.98% and a net margin of 25.83%.

German American Bancorp Price Performance

GABC stock opened at $31.68 on Thursday. The business has a fifty day moving average of $32.60 and a two-hundred day moving average of $31.39. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. The stock has a market cap of $937.09 million, a price-to-earnings ratio of 11.12 and a beta of 0.64. German American Bancorp has a 52-week low of $24.85 and a 52-week high of $34.96.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 3.41%. German American Bancorp’s payout ratio is 37.89%.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley bought 1,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $33.64 per share, with a total value of $33,640.00. Following the completion of the purchase, the director now directly owns 3,660 shares in the company, valued at $123,122.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 1,107 shares of company stock valued at $37,113 over the last quarter. 6.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.