German American Bancorp, Inc. (GABC) Expected to Post Quarterly Sales of $33.20 Million
Equities analysts expect German American Bancorp, Inc. (NASDAQ:GABC) to announce sales of $33.20 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for German American Bancorp’s earnings. The highest sales estimate is $33.70 million and the lowest is $32.70 million. German American Bancorp reported sales of $32.73 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The company is scheduled to issue its next earnings results after the market closes on Monday, July 31st.
According to Zacks, analysts expect that German American Bancorp will report full year sales of $33.20 million for the current fiscal year, with estimates ranging from $132.90 million to $136.91 million. For the next fiscal year, analysts anticipate that the company will report sales of $141.74 million per share, with estimates ranging from $140.60 million to $142.88 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow German American Bancorp.
Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 target price on shares of German American Bancorp in a research note on Monday, April 10th. Hilliard Lyons upgraded shares of German American Bancorp from an “underperform” rating to a “neutral” rating and set a $33.00 price objective for the company in a research report on Thursday, May 25th. Sandler O’Neill upgraded shares of German American Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, March 28th. Finally, Zacks Investment Research downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Five investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $38.00.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Schroder Investment Management Group boosted its position in shares of German American Bancorp by 29.7% in the first quarter. Schroder Investment Management Group now owns 3,350 shares of the bank’s stock worth $162,000 after buying an additional 767 shares during the period. Bank of America Corp DE boosted its position in shares of German American Bancorp by 27.8% in the first quarter. Bank of America Corp DE now owns 4,400 shares of the bank’s stock worth $208,000 after buying an additional 958 shares during the period. First Financial Corp IN boosted its position in shares of German American Bancorp by 49.9% in the second quarter. First Financial Corp IN now owns 4,497 shares of the bank’s stock worth $153,000 after buying an additional 1,498 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of German American Bancorp during the fourth quarter worth $249,000. Finally, SG Americas Securities LLC acquired a new position in shares of German American Bancorp during the first quarter worth $238,000. 22.53% of the stock is owned by institutional investors and hedge funds.
Shares of German American Bancorp (NASDAQ:GABC) opened at 34.43 on Friday. German American Bancorp has a 12 month low of $30.32 and a 12 month high of $54.46. The firm’s 50-day moving average price is $31.80 and its 200-day moving average price is $43.03. The firm has a market cap of $789.45 million, a PE ratio of 19.91 and a beta of 1.15.
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German American Bancorp Company Profile
German American Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. Its segments are core banking, trust and investment advisory services, insurance, and other.
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