Wall Street brokerages forecast that German American Bancorp., Inc. (NASDAQ:GABC) will report $44.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for German American Bancorp.’s earnings, with the lowest sales estimate coming in at $43.80 million and the highest estimate coming in at $44.40 million. German American Bancorp. posted sales of $36.35 million in the same quarter last year, which suggests a positive year over year growth rate of 21.3%. The company is expected to issue its next quarterly earnings results on Monday, July 29th.
According to Zacks, analysts expect that German American Bancorp. will report full-year sales of $186.90 million for the current fiscal year, with estimates ranging from $186.30 million to $187.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $205.65 million, with estimates ranging from $205.50 million to $205.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover German American Bancorp..
German American Bancorp. (NASDAQ:GABC) last posted its earnings results on Monday, April 29th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. The firm had revenue of $45.25 million during the quarter, compared to analysts’ expectations of $43.55 million. German American Bancorp. had a return on equity of 12.37% and a net margin of 26.91%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded German American Bancorp. from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, May 2nd. BidaskClub upgraded German American Bancorp. from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd.
GABC stock traded up $0.33 during trading on Friday, hitting $28.96. 19,125 shares of the company’s stock were exchanged, compared to its average volume of 57,112. The stock has a market cap of $721.52 million, a price-to-earnings ratio of 13.53 and a beta of 0.87. German American Bancorp. has a 52-week low of $26.20 and a 52-week high of $38.20. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.66.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 9th. German American Bancorp.’s payout ratio is 31.78%.
In other German American Bancorp. news, Director Thomas W. Seger bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $29.50 per share, for a total transaction of $29,500.00. Following the completion of the purchase, the director now directly owns 2,710 shares in the company, valued at $79,945. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas W. Seger bought 3,865 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $28.90 per share, with a total value of $111,698.50. Following the purchase, the director now owns 2,710 shares of the company’s stock, valued at $78,319. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,853 shares of company stock valued at $169,594. 7.91% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in German American Bancorp. by 11.3% during the fourth quarter. Legal & General Group Plc now owns 3,884 shares of the bank’s stock worth $108,000 after buying an additional 394 shares during the period. German American Bancorp Inc. increased its position in German American Bancorp. by 0.3% during the first quarter. German American Bancorp Inc. now owns 143,492 shares of the bank’s stock worth $4,217,000 after buying an additional 439 shares during the period. American International Group Inc. increased its position in German American Bancorp. by 5.3% during the first quarter. American International Group Inc. now owns 14,582 shares of the bank’s stock worth $429,000 after buying an additional 728 shares during the period. Quantamental Technologies LLC acquired a new position in German American Bancorp. during the first quarter worth approximately $27,000. Finally, Citigroup Inc. increased its position in German American Bancorp. by 16.3% during the fourth quarter. Citigroup Inc. now owns 7,341 shares of the bank’s stock worth $204,000 after buying an additional 1,030 shares during the period. 38.19% of the stock is currently owned by institutional investors.
German American Bancorp. Company Profile
German American Bancorp, Inc operates as the bank holding company for German American Bancorp that provides retail and commercial banking services. The company operates through three segments: Core Banking, Trust and Investment Advisory Services, and Insurance Operations. The Core Banking segment accepts various 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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