German American Bancorp (NASDAQ:GABC – Get Free Report) had its price objective boosted by stock analysts at Keefe, Bruyette & Woods from $46.00 to $47.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 13.36% from the company’s previous close.
Several other research firms have also recently commented on GABC. Piper Sandler cut their target price on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stephens assumed coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $48.00 in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.40.
View Our Latest Report on GABC
German American Bancorp Stock Down 0.6 %
German American Bancorp (NASDAQ:GABC – Get Free Report) last announced its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. On average, equities research analysts anticipate that German American Bancorp will post 2.76 EPS for the current fiscal year.
Hedge Funds Weigh In On German American Bancorp
Institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of German American Bancorp by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock valued at $1,198,000 after acquiring an additional 323 shares during the period. BNP Paribas Financial Markets grew its holdings in German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after purchasing an additional 365 shares during the period. Valeo Financial Advisors LLC grew its holdings in German American Bancorp by 5.6% during the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock worth $799,000 after purchasing an additional 1,097 shares during the period. Rhumbline Advisers increased its position in German American Bancorp by 2.5% during the fourth quarter. Rhumbline Advisers now owns 47,284 shares of the bank’s stock worth $1,902,000 after buying an additional 1,153 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its stake in German American Bancorp by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock valued at $2,419,000 after buying an additional 1,290 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.
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.
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