German American Bancorp Coverage Initiated by Analysts at DA Davidson (GABC)
Equities research analysts at DA Davidson began coverage on shares of German American Bancorp (NASDAQ:GABC) in a research note issued to investors on Friday. The firm set a “market perform” rating and a $30.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 16.14% from the stock’s previous close.
The analysts wrote, “We are transferring coverage of German American Bancorp, Inc. from Christopher McGratty, increasing our 12-month price target to $30 from $29, and raising our rating to Outperform from Market Perform. We view German American as an attractive core holding for small-cap community bank investors—given the bank’s consistently above-average profitability, outlook for favorable loan growth, and demonstrated track record of growing tangible book value.”
A number of other firms have also recently commented on GABC. Analysts at Keefe, Bruyette & Woods upgraded shares of German American Bancorp to an “outperform” rating in a research note on Friday. They now have a $30.00 price target on the stock, up previously from $29.00. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.60.
Shares of German American Bancorp (NASDAQ:GABC) opened at 25.83 on Friday. German American Bancorp has a 52-week low of $21.16 and a 52-week high of $30.58. The stock has a 50-day moving average of $26.78 and a 200-day moving average of $27.88. The company has a market cap of $341.2 million and a P/E ratio of 13.14.
German American Bancorp (NASDAQ:GABC) last released its earnings data on Monday, April 28th. The company reported $0.48 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.48. On average, analysts predict that German American Bancorp will post $1.99 earnings per share for the current fiscal year.
German American Bancorp, Inc is a financial services holding company. The principal subsidiary of the Company is its banking subsidiary, German American Bancorp (NASDAQ:GABC), which operates through 34 retail banking offices in 12 contiguous Southern Indiana counties.
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