Piper Sandler Has Lowered Expectations for German American Bancorp (NASDAQ:GABC) Stock Price

German American Bancorp (NASDAQ:GABC) had its price objective lowered by Piper Sandler from $49.00 to $48.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 14.12% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Stephens began coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on shares of German American Bancorp from $43.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, 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, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.20.

German American Bancorp Stock Performance

Shares of GABC traded up $0.36 during trading hours on Wednesday, hitting $42.06. The stock had a trading volume of 6,390 shares, compared to its average volume of 85,351. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 15.28 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average price of $41.87 and a 200 day moving average price of $40.60. German American Bancorp has a fifty-two week low of $30.66 and a fifty-two week high of $47.08.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. As a group, research analysts anticipate that German American Bancorp will post 2.76 EPS for the current year.

Hedge Funds Weigh In On German American Bancorp

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in German American Bancorp in the third quarter valued at about $597,000. Barclays PLC raised its position in German American Bancorp by 577.6% in the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock worth $2,684,000 after acquiring an additional 59,048 shares in the last quarter. State Street Corp lifted its holdings in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after acquiring an additional 50,206 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of German American Bancorp by 154.6% in the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank’s stock valued at $2,358,000 after purchasing an additional 36,954 shares during the period. Finally, German American Bancorp Inc. grew its holdings in shares of German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after acquiring an additional 316,400 shares during the period. Hedge funds and other institutional investors own 46.90% of the company’s stock.

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.