German American Bancorp, Inc. (NASDAQ:GABC) Stake Boosted by German American Bancorp Inc.

German American Bancorp Inc. raised its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 160.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 514,018 shares of the bank’s stock after buying an additional 316,400 shares during the quarter. German American Bancorp accounts for 2.1% of German American Bancorp Inc.’s portfolio, making the stock its 14th largest position. German American Bancorp Inc.’s holdings in German American Bancorp were worth $19,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of German American Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock worth $39,930,000 after buying an additional 14,478 shares during the period. Bank of New York Mellon Corp boosted its position in German American Bancorp by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank’s stock worth $7,166,000 after acquiring an additional 8,028 shares during the period. Kennedy Capital Management LLC acquired a new stake in German American Bancorp during the 1st quarter worth about $6,828,000. Mutual of America Capital Management LLC purchased a new position in German American Bancorp during the 2nd quarter valued at about $5,887,000. Finally, Aptus Capital Advisors LLC increased its holdings in shares of German American Bancorp by 23.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 134,124 shares of the bank’s stock valued at $5,197,000 after purchasing an additional 25,753 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.

German American Bancorp Stock Down 0.5 %

GABC stock opened at $44.94 on Thursday. The firm has a market cap of $1.33 billion, a PE ratio of 16.22 and a beta of 0.61. German American Bancorp, Inc. has a 1 year low of $27.23 and a 1 year high of $46.75. The company has a fifty day simple moving average of $40.80 and a 200 day simple moving average of $37.57. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. Sell-side analysts anticipate that German American Bancorp, Inc. will post 2.74 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 annualized dividend and a yield of 2.40%. German American Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

Analysts Set New Price Targets

Several research firms recently commented on GABC. StockNews.com cut shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler lifted their target price on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stephens initiated coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. Finally, Raymond James boosted their target price on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.25.

About German American Bancorp

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.