German American Bancorp (NASDAQ:GABC) Shares Cross Above 200-Day Moving Average of $37.02

German American Bancorp, Inc. (NASDAQ:GABCGet Rating) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.02 and traded as high as $38.36. German American Bancorp shares last traded at $38.30, with a volume of 36,272 shares changing hands.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on German American Bancorp to $39.50 and gave the company an “outperform” rating in a research report on Wednesday, July 27th.

German American Bancorp Price Performance

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 14.40 and a beta of 0.70. The stock has a fifty day simple moving average of $37.22 and a 200-day simple moving average of $37.02. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.74 and a quick ratio of 0.74.

German American Bancorp (NASDAQ:GABCGet Rating) last announced its quarterly earnings results on Monday, July 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. German American Bancorp had a return on equity of 13.72% and a net margin of 29.43%. On average, equities research analysts anticipate that German American Bancorp, Inc. will post 3.24 EPS for the current year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, August 20th. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Tuesday, August 9th. German American Bancorp’s payout ratio is 34.59%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of German American Bancorp by 1,473.2% during the 2nd quarter. Captrust Financial Advisors now owns 2,234 shares of the bank’s stock worth $76,000 after buying an additional 2,092 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of German American Bancorp by 2.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,575 shares of the bank’s stock worth $669,000 after buying an additional 411 shares during the period. State Street Corp raised its stake in shares of German American Bancorp by 4.9% during the 2nd quarter. State Street Corp now owns 548,142 shares of the bank’s stock worth $18,735,000 after buying an additional 25,458 shares during the period. Citadel Advisors LLC raised its stake in shares of German American Bancorp by 82.2% during the 2nd quarter. Citadel Advisors LLC now owns 56,891 shares of the bank’s stock worth $1,945,000 after buying an additional 25,660 shares during the period. Finally, Millennium Management LLC raised its stake in shares of German American Bancorp by 20.7% during the 2nd quarter. Millennium Management LLC now owns 21,053 shares of the bank’s stock worth $720,000 after buying an additional 3,611 shares during the period. 40.71% of the stock is owned by institutional investors and hedge funds.

About German American Bancorp

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German American Bancorp, Inc operates as a bank 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.

Further Reading

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