Piper Sandler Lowers German American Bancorp (NASDAQ:GABC) Price Target to $48.00

German American Bancorp (NASDAQ:GABC) had its target price decreased by stock analysts at Piper Sandler from $49.00 to $48.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 15.77% from the company’s current price.

GABC has been the topic of a number of other reports. Keefe, Bruyette & Woods raised their price objective on German American Bancorp from $43.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. Finally, Stephens started coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective for the company. One 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.40.

German American Bancorp Price Performance

NASDAQ GABC opened at $41.46 on Wednesday. The company has a 50 day moving average price of $41.73 and a two-hundred day moving average price of $40.61. German American Bancorp has a 12-month low of $30.66 and a 12-month high of $47.08. The stock has a market capitalization of $1.23 billion, a PE ratio of 14.97 and a beta of 0.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27.

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

Institutional Investors Weigh In On German American Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of GABC. German American Bancorp Inc. boosted its holdings in German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after purchasing an additional 316,400 shares during the period. Franklin Resources Inc. lifted its stake in shares of German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after buying an additional 196,003 shares during the period. Barclays PLC grew its position in German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock worth $2,684,000 after buying an additional 59,048 shares in the last quarter. State Street Corp increased its stake in German American Bancorp by 6.9% during 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. Finally, Royce & Associates LP raised its holdings in German American Bancorp by 43.3% in the 3rd quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock valued at $5,160,000 after acquiring an additional 40,219 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

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.