German American Bancorp Inc. (GABC) Reaches New 12-Month High at $38.99
German American Bancorp Inc. (NASDAQ:GABC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $38.99 and last traded at $38.50, with a volume of 28,977 shares trading hands. The stock had previously closed at $37.93.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of German American Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Sandler O’Neill assumed coverage on shares of German American Bancorp in a research report on Thursday, August 25th. They set a “hold” rating for the company.
The company has a market capitalization of $587.39 million, a P/E ratio of 17.66 and a beta of 0.90. The stock’s 50-day moving average price is $35.95 and its 200 day moving average price is $33.36.
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German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. German American Bancorp had a return on equity of 11.40% and a net margin of 25.22%. Analysts predict that German American Bancorp Inc. will post $2.39 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of German American Bancorp by 229.2% in the second quarter. BlackRock Inc. now owns 3,318 shares of the company’s stock worth $106,000 after buying an additional 2,310 shares during the last quarter. BlackRock Group LTD increased its stake in shares of German American Bancorp by 96.9% in the second quarter. BlackRock Group LTD now owns 3,975 shares of the company’s stock worth $128,000 after buying an additional 1,956 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of German American Bancorp during the second quarter worth $143,000. O Shaughnessy Asset Management LLC increased its stake in shares of German American Bancorp by 0.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,234 shares of the company’s stock worth $167,000 after buying an additional 14 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of German American Bancorp during the second quarter worth $226,000. 28.29% of the stock is currently owned by institutional investors.
German American Bancorp Company Profile
German American Bancorp, Inc is a bank holding company. The Company’s operating segments include core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets.
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