German American Bancorp
Runs community banking and wealth services across Indiana, Kentucky, and Ohio.
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Profile
Provides core banking and wealth management through German American Bank and German American Investment Services, with deposits funding local consumer, commercial, agricultural, real estate, and mortgage lending. The footprint is concentrated in Indiana, Kentucky, and Ohio, including Heartland Bank branding in Columbus and Greater Cincinnati.
Provides community banking through German American Bank, gathering deposits and making consumer, commercial, agricultural, commercial real estate, and residential mortgage loans in local markets. Wealth management adds advisory, trust, brokerage, and retirement-planning fees through the bank and German American Investment Services.
Keeps a dense Midwest footprint across Indiana, Kentucky, and Ohio. The Heartland merger added Columbus and Greater Cincinnati markets, where the bank operates as Heartland Bank, a Division of German American Bank.
Execution depends on deposit gathering, loan demand, credit quality, liquidity, and interest-rate conditions. Current operations are banking and wealth management; insurance activities ceased after the sale of substantially all insurance-operation assets.
Company facts
Categories
Key statistics
Year to date +28.4% · Average volume (30d) 147.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | Piper Sandler | Reiterate | Overweight | $47 | $60 | |
| Apr 29, 2026 | Stephens | Target | $45 | $49 | ||
| Mar 20, 2026 | Piper Sandler | Upgrade | Neutral | Overweight | ||
| Jan 29, 2026 | Piper Sandler | Reiterate | Neutral | $47 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | $0.92 | $1.02 | +10.5% | $99.2M | $101.3M | +2.1% | +4.48% |
| Apr 27, 2026Q1 FY26 | $0.90 | $0.88 | −2.2% | $95.8M | $97.4M | +1.7% | −1.59% |
| Jan 26, 2026Q4 FY25 | $0.90 | $0.96 | +6.7% | $94.6M | $97.8M | +3.4% | +3.65% |
| Oct 27, 2025Q3 FY25 | $0.86 | $0.92 | +7.0% | $93.0M | $94.2M | +1.3% | +2.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $111.1M | $123.2M | $126.5M | $126.7M | $122.9M | $126.9M | |
| Gross profit | $66.1M | $88.7M | $93.5M | $93.8M | $94.1M | $98.5M | |
| Operating income | $13.3M | $39.2M | $43.8M | $43.8M | $41.7M | $48.1M | |
| Net income | $10.5M | $31.4M | $35.1M | $35.7M | $33.2M | $38.2M | |
| Diluted EPS | $0.30 | $0.86 | $0.94 | $0.95 | $0.88 | $1.02 | |
| Gross margin | 59.5% | 72.0% | 73.9% | 74.0% | 76.5% | 77.6% | |
| Operating margin | 12.0% | 31.8% | 34.6% | 34.6% | 33.9% | 37.9% |
Fiscal years (4-quarter sums)FY21 $229.8M · FY22 $278.1M · FY23 $316.9M · FY24 $315.4M · FY25 $487.4M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $94.2M · Total debt $174.1M · Total assets $8.44B · Shareholders' equity $1.21B
Dividends
Raised for 31 straight years — most recently to $0.31 from $0.29 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 10, 2026 | Aug 10 | Aug 20 | $0.31 | |
| May 8, 2026 | May 10 | May 20 | $0.31 | |
| Feb 10, 2026 | Feb 10 | Feb 20 | $0.31 | raised from $0.29 |
| Nov 10, 2025 | Nov 10 | Nov 20 | $0.29 | |
| Aug 8, 2025 | Aug 10 | Aug 20 | $0.29 | |
| May 9, 2025 | May 10 | May 20 | $0.29 | |
| Feb 10, 2025 | Feb 10 | Feb 20 | $0.29 | raised from $0.27 |
| Nov 8, 2024 | Nov 10 | Nov 20 | $0.27 |
Ownership
Shares outstanding 37.56M · Float 35.94M · 95.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 3.00M | 7.97% | 13F | Aug 7, 2026 |
| Franklin Resources Inc | 1.96M | 5.22% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.54M | 4.11% | 13F | Aug 13, 2026 |
| Charles Schwab Investment Management Inc | 1.27M | 3.38% | 13F | Aug 14, 2026 |
| Sixth Street Partners Management Company, L.P. | 1.27M | 3.38% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Andrew M. Seger | director | +391 | $51.12 |
| Aug 17, 2026 | Zachary W. Bawel | director | +391 | $51.12 |
| Aug 17, 2026 | Christina M. Ryan | director | +391 | $51.12 |
| Aug 17, 2026 | Jason M. Kelly | director | +49 | $51.12 |
| Jul 16, 2026 | Jason M. Kelly | director | +418 | $47.84 |
Peers
- First Financial Bancorp
Close Ohio Valley overlap in deposits, lending, mortgage, and wealth
- Stock Yards Bancorp
Direct Kentucky, Indianapolis, and Cincinnati community-bank rival
- Old National Bancorp
Scaled Indiana-rooted regional bank across Midwest and Southeast
- WesBanco
Multi-state Ohio Valley bank with Indiana, Kentucky, and Ohio overlap
- First Merchants
Indiana and Ohio community bank with commercial and wealth overlap
- First Financial
Terre Haute peer in Indiana and western Kentucky banking
- Lakeland Financial
Indiana community-bank peer focused on commercial relationships
- Republic Bancorp
Louisville bank with Kentucky, southern Indiana, and Ohio branches
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| German American Bancorp | $49.92 | −0.02% | $1.88B | 13.2 | 12.4 | 3.7 | +12.7% |
| First Financial Bancorp | $32.84 | +0.09% | $3.44B | 11.6 | 10.2 | 2.6 | +16.7% |
| Stock Yards Bancorp | $79.84 | −0.01% | $2.36B | 15.9 | 14.8 | 4.2 | +17.2% |
| Old National Bancorp | $25.85 | +0.02% | $9.89B | 11.4 | 9.5 | 2.5 | +12.3% |
| WesBanco | $40.42 | 0.00% | $3.88B | 11.4 | 11.1 | 2.6 | +6.3% |
| First Merchants | $41.93 | −0.02% | $2.63B | 13.4 | 9.9 | 2.4 | +23.2% |
| First Financial | $79.24 | +0.11% | $942.3M | 11.1 | 10.2 | 2.8 | +14.0% |
| Lakeland Financial | $59.61 | +0.08% | $1.49B | 13.7 | 13.5 | 3.5 | +6.8% |
| Republic Bancorp | $94.90 | −0.15% | $1.66B | 14.7 | 13.9 | 3.3 | +9.7% |
| Median | 12.5 | 10.7 | 2.7 | +13.1% |