Martingale Asset Management L P Takes Position in German American Bancorp, Inc. (NASDAQ:GABC)

Martingale Asset Management L P purchased a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 12,500 shares of the bank’s stock, valued at approximately $484,000.

Several other institutional investors have also added to or reduced their stakes in the company. German American Bancorp Inc. increased its position in German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after buying an additional 316,400 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of German American Bancorp in the second quarter valued at about $5,887,000. Royce & Associates LP increased its position in German American Bancorp by 43.3% during the third quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock worth $5,160,000 after acquiring an additional 40,219 shares during the period. Charles Schwab Investment Management Inc. increased its position in German American Bancorp by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock worth $36,988,000 after acquiring an additional 32,816 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in German American Bancorp in the 2nd quarter worth about $1,034,000. 46.90% of the stock is currently owned by institutional investors.

German American Bancorp Price Performance

GABC stock opened at $44.83 on Wednesday. The company’s 50-day moving average price is $41.74 and its two-hundred day moving average price is $38.33. The firm has a market cap of $1.33 billion, a P/E ratio of 16.18 and a beta of 0.63. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a 12 month low of $29.61 and a 12 month high of $47.08.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. The business had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.80 million. On average, analysts anticipate that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were given a dividend of $0.27 per share. The ex-dividend date was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.41%. German American Bancorp’s dividend payout ratio is currently 38.99%.

Analyst Ratings Changes

GABC has been the topic of several recent research reports. Stephens assumed coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price on the stock. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.25.

German American Bancorp Company Profile

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.