German American Bancorp, Inc. (NASDAQ:GABC) Sees Large Drop in Short Interest

German American Bancorp, Inc. (NASDAQ:GABC) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,650,000 shares, a decline of 5.7% from the December 15th total of 1,750,000 shares. Based on an average daily trading volume, of 92,800 shares, the days-to-cover ratio is presently 17.8 days.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Stephens started coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on German American Bancorp from $43.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.40.

Institutional Trading of German American Bancorp

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of German American Bancorp during the 3rd quarter worth approximately $99,000. Renaissance Technologies LLC acquired a new position in shares of German American Bancorp in the second quarter valued at $207,000. BNP Paribas Financial Markets lifted its position in German American Bancorp by 6.2% in 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. SG Americas Securities LLC acquired a new stake in German American Bancorp during the third quarter worth $247,000. Finally, Semanteon Capital Management LP bought a new stake in German American Bancorp in the 3rd quarter valued at $346,000. 46.90% of the stock is owned by institutional investors.

German American Bancorp Stock Performance

GABC opened at $39.75 on Friday. 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 company has a market cap of $1.18 billion, a PE ratio of 14.35 and a beta of 0.65. The stock has a 50-day moving average of $42.71 and a 200-day moving average of $40.32. German American Bancorp has a 52-week low of $30.66 and a 52-week high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, equities research analysts forecast that German American Bancorp will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were paid a $0.27 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. German American Bancorp’s payout ratio is 38.99%.

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.