Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price49.10 USD
Fair value58.92
Ethical score30.0/100
Our investment reviews on this name
2026-08-30Read Markdown49.52-0.8% to today ✓
2026-07-30Read Markup48.57+1.1% to today ✓
2026-07-02Read Accumulation45.91+6.9% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
German American Bancorp, Inc. holds its Markdown at $49.10. The statistical read favours the sellers, held for 368 days.
As held on the ledger · 2026-09-24
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 368 days
Price at the screen
$49.10
Valuation
12.92 trailing · 11.91 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.57
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: bank
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: bank
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
German American Bancorp, does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-24 screen. The gold marker is the market price at the same screen. A 20.0% margin of safety to the base estimate.
Third-party analyst targets: 5 covering, consensus Buy. The average target sits +14% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-24 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Regional Bank Numbers Look Fine Until Ethics Intervene
Picture a small business owner in Indiana depositing daily takings at the local branch. That steady flow of deposits and loans is what keeps German American Bancorp running, yet the operation sits squarely inside an industry our screen rules out from the start.
The company posts 42 percent revenue growth and a 37 percent profit margin, with a forward multiple of 12.2 times and 12 percent return on equity. None of that matters once the ethical filter is applied. Banks are excluded on principle, so the modest margin of safety to fair value and the analyst buy rating carry no weight here.
Sector exposure brings its own hazards, from interest rate swings to regulatory tightening that can compress lending margins quickly. The ethical screen simply removes the name before those variables come into play.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
GABC trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown$49.10-0.8%Entry 6
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (5 analysts) rates it buy, with a mean price target of $49.
2026-08-30Markdown · changed$49.52+2.0%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (5 analysts) rates it buy, with a mean price target of $49.
2026-07-30Markup · changed$48.57+5.8%Entry 4
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (5 analysts) rates it buy, with a mean price target of $49.
2026-07-18Accumulation$45.91+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (5 analysts) rates it buy, with a mean price target of $49.
2026-07-03Accumulation$45.91+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$45.91Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
