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

German American Bancorp (NASDAQ:GABC) released its earnings results on Monday. The bank reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64, Yahoo Finance reports. The company had revenue of $84.08 million during the quarter, compared to analysts’ expectations 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 Stock Down 0.9 %

NASDAQ:GABC opened at $31.73 on Wednesday. German American Bancorp has a 1 year low of $24.85 and a 1 year high of $34.96. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a market cap of $938.57 million, a price-to-earnings ratio of 11.13 and a beta of 0.62. The stock has a 50-day moving average price of $32.65 and a two-hundred day moving average price of $31.35.

Insider Activity

In other news, Director Diane B. Medley acquired 1,000 shares of German American Bancorp stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $33.64 per share, with a total value of $33,640.00. Following the completion of the transaction, the director now directly owns 3,660 shares of the company’s stock, valued at $123,122.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 1,107 shares of company stock worth $37,113 over the last three months. Corporate insiders own 4.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GABC shares. Raymond James lifted their price objective on German American Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Piper Sandler boosted their target price on German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research note 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.