Net interest margin expansion - Co said margin rose due to higher earning asset yields and lower deposit costs
Loan and non-interest income growth - Loan balances grew across commercial and home equity segments; non-interest income rose on wealth management and interchange fees
Lower operating expenses - Operating expenses declined due to lower salaries, benefits, and seasonal costs
Q2 results hit record highs
U.S. regional bank's Q2 net income and EPS hit record highs, up 21% yr/yr
Results driven by net interest margin expansion, loan and non-interest income growth, and lower expenses
Company maintained strong credit metrics and stable deposit growth in Q2
Dividend and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Dividend
$0.31
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for German American Bancorp Inc is $51.00, about 5.3% above its July 24 closing price of $48.43
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