German American Bancorp (NASDAQ:GABC) Releases Earnings Results, Meets Estimates

German American Bancorp (NASDAQ:GABC) announced its quarterly earnings data on Monday. The bank reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64, Yahoo Finance reports. The business 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%.

German American Bancorp Price Performance

Shares of German American Bancorp stock opened at $31.73 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. German American Bancorp has a twelve month low of $24.85 and a twelve month high of $34.96. The business has a 50-day moving average price of $32.65 and a 200 day moving average price of $31.35. The firm has a market cap of $938.57 million, a PE ratio of 11.13 and a beta of 0.62.

Analysts Set New Price Targets

Several research firms have commented on GABC. Raymond James upped their price objective on German American Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler raised their price target on shares of German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $33.64 per share, for a total transaction of $33,640.00. Following the purchase, the director now directly owns 3,660 shares in the company, valued at $123,122.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 1,107 shares of company stock worth $37,113 in the last 90 days. Corporate insiders own 4.59% 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.