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German American Bancorp
(NASDAQ:GABC)
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Rating:77Outperform
Price Target:
$55.00
▲(13.57% Upside)
Action:Reiterated
Date:07/28/26
The score is driven primarily by strong financial performance (improving profitability and stronger capital/leverage profile) and supportive technical trend (price above major moving averages). Valuation is reasonable with a moderate dividend yield, while recent corporate events reinforce operational strength and capital/credit quality; the main offsets are uneven historical revenue consistency and a cautionary cash-flow coverage metric.
Positive Factors
Strong profitability & margin expansion
Sustained NII strength and improving margins (core NIM ~4.13–4.30% and higher net margins TTM) combined with a sub-50% efficiency ratio indicate the bank converts interest spreads and fees into durable operating earnings. This structural profitability supports reinvestment, dividends and capital build over multiple rate cycles.
Negative Factors
Uneven revenue consistency
Top-line volatility across years signals that revenue drivers (loan growth, fee income) have not been consistently predictable. For a regional bank, inconsistent revenue complicates multi-period planning for expense leverage and provisioning, making sustained margin improvements harder to rely on without steady organic growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability & margin expansion
Sustained NII strength and improving margins (core NIM ~4.13–4.30% and higher net margins TTM) combined with a sub-50% efficiency ratio indicate the bank converts interest spreads and fees into durable operating earnings. This structural profitability supports reinvestment, dividends and capital build over multiple rate cycles.
Read all positive factors
German American Bancorp (GABC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.91B
Dividend Yield2.36%
Average Volume (3M)116.13K
Price to Earnings (P/E)13.4
Beta (1Y)0.72
Revenue Growth21.78%
EPS Growth43.92%
CountryUS
Employees984
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.63
Shares Outstanding37,564,316
10 Day Avg. Volume104,961
30 Day Avg. Volume116,126
Financial Highlights & Ratios
PEG Ratio1.58
Price to Book (P/B)1.24
Price to Sales (P/S)2.96
P/FCF Ratio9.36
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$55.50Price Target Upside14.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.74
Revenue Forecast (FY)$400.68M
German American Bancorp Business Overview & Revenue Model
Company Description
German American Bancorp, Inc. functions as the parent entity for German American Bank, offering a comprehensive suite of retail and commercial banking services. The company's operations are divided into three core segments: Core Banking, Wealth Ma...
How the Company Makes Money
German American Bancorp primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is earned by taking in customer deposits and other funding (on which it pays interest or incurs funding costs) and deploy...
German American Bancorp Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
81
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 499.28M | 487.40M | 315.38M | 316.92M | 278.06M | 229.84M |
| Gross Profit | 369.98M | 342.02M | 212.15M | 248.14M | 253.37M | 226.79M |
| EBITDA | 196.52M | 158.78M | 113.38M | 113.06M | 109.29M | 111.56M |
| Net Income | 135.27M | 112.64M | 83.81M | 85.89M | 81.83M | 84.14M |
Balance Sheet | ||||||
| Total Assets | 8.38B | 8.39B | 6.30B | 6.15B | 6.16B | 5.61B |
| Cash, Cash Equivalents and Short-Term Investments | 75.96M | 1.23B | 1.12B | 1.68B | 1.84B | 1.94B |
| Total Debt | 174.65M | 182.68M | 210.13M | 193.94M | 203.81M | 152.18M |
| Total Liabilities | 7.21B | 7.23B | 5.58B | 5.49B | 5.60B | 4.94B |
| Stockholders Equity | 1.17B | 1.16B | 715.07M | 663.56M | 558.39M | 668.46M |
Cash Flow | ||||||
| Free Cash Flow | 153.30M | 154.00M | 90.72M | 101.49M | 102.18M | 96.16M |
| Operating Cash Flow | 158.43M | 159.32M | 95.76M | 107.23M | 110.04M | 100.84M |
| Investing Cash Flow | -268.60M | -60.27M | -82.40M | 27.25M | -24.18M | -640.30M |
| Financing Cash Flow | -208.20M | -169.46M | 60.10M | -136.54M | -363.67M | 590.60M |
German American Bancorp Risk Analysis
German American Bancorp disclosed 32 risk factors in its most recent earnings report. German American Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
German American Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $1.84B | 13.67 | 10.23% | 2.48% | 3.50% | 23.44% | |
80 Outperform | $1.84B | 13.98 | 9.74% | 2.74% | 2.45% | ― | |
77 Outperform | $1.91B | 13.42 | 12.17% | 2.48% | 21.78% | 43.92% | |
76 Outperform | $2.16B | 12.86 | 13.41% | 1.88% | 4.33% | 21.67% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $1.93B | 16.81 | 6.47% | 2.94% | 8.43% | -23.02% |
* Financial Sector Average
GABC
German American Bancorp
50.88
14.06
38.17%
SRCE
1St Source
89.74
31.70
54.62%
STBA
S&T Bancorp
52.15
17.05
48.56%
TCBK
Trico Bancshares
57.54
17.80
44.78%
NBHC
National Bank Holdings
43.19
7.82
22.11%
German American Bancorp Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
German American Bancorp Posts Record Quarterly Earnings
Positive
Jul 27, 2026
German American Bancorp reported record financial results for the three months ended June 30, 2026, posting net income of $38.2 million, or $1.02 per share, the highest in its history and up 16% from the first quarter and 21% from the prior-year p...
Business Operations and StrategyFinancial Disclosures
German American Bancorp Showcases Strong Q1 Performance to Investors
Positive
May 6, 2026
German American Bancorp’s top executives plan to meet with investors on May 7–8, 2026, in a non-deal roadshow hosted by Piper Sandler, showcasing the bank’s financial performance through the first quarter of 2026. The roadshow ma...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
German American Bancorp Shareholders Approve Governance and Share Increase
Positive
Apr 29, 2026
At its April 27, 2026 annual meeting, German American Bancorp shareholders elected four directors, Angela Curry, M. Darren Root, Andrew M. Seger and Tyson J. Wagler, to serve until the 2029 annual meeting, reflecting continued support for the comp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.