German American Bancorp (NASDAQ:GABC) Issues Earnings Results, Beats Expectations By $0.02 EPS

German American Bancorp (NASDAQ:GABC) announced its quarterly earnings data on Monday. The bank reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02, FiscalAI reports. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. The business had revenue of $103.68 million during the quarter, compared to the consensus estimate of $102.65 million.

German American Bancorp Stock Up 0.5%

Shares of German American Bancorp stock traded up $0.27 during trading on Monday, hitting $51.11. 151,258 shares of the stock traded hands, compared to its average volume of 150,719. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.92 billion, a P/E ratio of 13.49 and a beta of 0.61. The stock’s fifty day simple moving average is $49.49 and its 200 day simple moving average is $47.15. German American Bancorp has a 52-week low of $37.73 and a 52-week high of $52.23.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GABC shares. Weiss Ratings upgraded German American Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods upped their price objective on German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Raymond James Financial initiated coverage on German American Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Wall Street Zen upgraded German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.33.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides banking, wealth management, and insurance services to individuals, families, farmers, and businesses.

German American Bank offers deposit accounts, residential and commercial real estate loans, agricultural financing, commercial loans, consumer loans, mortgage services, and other traditional banking products. Its wealth management operations provide trust administration, investment management, financial planning, and related services, while its insurance business offers personal and commercial insurance products.

Founded in 1910, German American Bancorp has built a community banking franchise serving southern Indiana and neighboring communities in Kentucky and Ohio.