Zacks: Analysts Anticipate German American Bancorp., Inc. (GABC) Will Announce Quarterly Sales of $34.03 Million
Equities analysts forecast that German American Bancorp., Inc. (NASDAQ:GABC) will announce sales of $34.03 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for German American Bancorp.’s earnings, with estimates ranging from $33.40 million to $34.65 million. German American Bancorp. posted sales of $32.94 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The firm is scheduled to announce its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that German American Bancorp. will report full-year sales of $34.03 million for the current fiscal year, with estimates ranging from $132.20 million to $137.66 million. For the next financial year, analysts anticipate that the business will report sales of $140.62 million per share, with estimates ranging from $137.50 million to $143.73 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for German American Bancorp..
German American Bancorp. (NASDAQ:GABC) last announced its quarterly earnings data on Monday, July 31st. The bank reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $32.61 million during the quarter, compared to analyst estimates of $33.20 million. German American Bancorp. had a net margin of 30.17% and a return on equity of 11.34%.
Several equities research analysts have issued reports on GABC shares. BidaskClub downgraded German American Bancorp. from a “sell” rating to a “strong sell” rating in a report on Tuesday. Hilliard Lyons raised German American Bancorp. from an “underperform” rating to a “neutral” rating and set a $33.00 price target for the company in a report on Thursday, May 25th. Finally, Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.00.
German American Bancorp. (GABC) opened at 32.03 on Friday. The firm has a market capitalization of $734.42 million, a price-to-earnings ratio of 18.50 and a beta of 1.16. German American Bancorp. has a one year low of $23.57 and a one year high of $36.31. The firm’s 50-day moving average is $33.81 and its 200 day moving average is $32.43.
The company also recently announced a quarterly dividend, which was paid on Sunday, August 20th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, August 8th. German American Bancorp.’s dividend payout ratio is currently 32.57%.
In other news, Director Chris A. Ramsey bought 1,587 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $31.55 per share, with a total value of $50,069.85. Following the completion of the acquisition, the director now owns 16,140 shares of the company’s stock, valued at $509,217. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 2,408 shares of company stock valued at $78,036 in the last three months. Insiders own 8.51% of the company’s stock.
Several large investors have recently bought and sold shares of GABC. Vanguard Group Inc. increased its stake in German American Bancorp. by 56.8% in the second quarter. Vanguard Group Inc. now owns 865,786 shares of the bank’s stock worth $29,514,000 after buying an additional 313,778 shares in the last quarter. FMR LLC increased its stake in German American Bancorp. by 50.0% in the second quarter. FMR LLC now owns 837,597 shares of the bank’s stock worth $28,554,000 after buying an additional 279,199 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in German American Bancorp. by 53.2% in the second quarter. Dimensional Fund Advisors LP now owns 765,212 shares of the bank’s stock worth $26,086,000 after buying an additional 265,851 shares in the last quarter. Franklin Resources Inc. increased its stake in German American Bancorp. by 114.2% in the second quarter. Franklin Resources Inc. now owns 550,650 shares of the bank’s stock worth $18,772,000 after buying an additional 293,550 shares in the last quarter. Finally, State Street Corp increased its stake in German American Bancorp. by 57.5% in the second quarter. State Street Corp now owns 398,868 shares of the bank’s stock worth $13,597,000 after buying an additional 145,547 shares in the last quarter. 23.84% of the stock is owned by institutional investors.
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About German American Bancorp.
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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