German American Bancorp, Inc. (NASDAQ:GABC) to Issue Quarterly Dividend of $0.27

German American Bancorp, Inc. (NASDAQ:GABC) declared a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Sunday, November 10th will be given a dividend of 0.27 per share by the bank on Wednesday, November 20th. This represents a $1.08 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, November 8th.

German American Bancorp has increased its dividend by an average of 9.6% annually over the last three years and has raised its dividend every year for the last 12 years. German American Bancorp has a payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect German American Bancorp to earn $2.95 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 36.6%.

German American Bancorp Price Performance

German American Bancorp stock traded up $1.49 during mid-day trading on Wednesday, hitting $41.72. 25,999 shares of the company were exchanged, compared to its average volume of 102,870. German American Bancorp has a 1-year low of $24.85 and a 1-year high of $42.78. The company has a market capitalization of $1.24 billion, a PE ratio of 14.12 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $39.27 and a 200 day moving average of $36.27.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. The company had revenue of $62.40 million during the quarter, compared to analyst estimates of $62.80 million. As a group, sell-side analysts expect that German American Bancorp will post 2.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday. Raymond James lifted their price objective on German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler raised their target price on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com cut German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Stephens assumed coverage on German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.25.

Insider Activity at German American Bancorp

In other news, Director Thomas W. Seger purchased 3,000 shares of German American Bancorp stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now directly owns 484,342 shares of the company’s stock, valued at $17,823,785.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Diane B. Medley bought 710 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $36.37 per share, with a total value of $25,822.70. Following the acquisition, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas W. Seger purchased 3,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $36.80 per share, with a total value of $110,400.00. Following the purchase, the director now owns 484,342 shares of the company’s stock, valued at approximately $17,823,785.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,732 shares of company stock worth $137,119 in the last ninety days. 6.16% of the stock is owned by company insiders.

German American Bancorp Company Profile

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.