German American Bancorp, Inc. (NASDAQ:GABC) Shares Bought by German American Bancorp Inc.

German American Bancorp Inc. lifted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 160.1% in the third quarter, according to its most recent Form 13F filing 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 makes up about 2.1% of German American Bancorp Inc.’s investment portfolio, making the stock its 14th largest holding. German American Bancorp Inc. owned approximately 1.73% of German American Bancorp worth $19,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Pettinga Financial Advisors LLC grew its position in shares of German American Bancorp by 6.5% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after acquiring an additional 443 shares in the last quarter. Chatham Capital Group Inc. lifted its holdings in German American Bancorp by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock worth $1,779,000 after acquiring an additional 840 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in German American Bancorp by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after acquiring an additional 1,097 shares during the period. Rhumbline Advisers grew its stake in German American Bancorp by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock worth $1,697,000 after buying an additional 1,214 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. grew its position in shares of German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock worth $2,419,000 after acquiring an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Raymond James raised their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price on the stock. Piper Sandler increased their price target on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com cut shares of German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company 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 given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.25.

German American Bancorp Trading Down 0.5 %

Shares of GABC stock opened at $44.94 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $40.80 and a 200 day simple moving average of $37.57. German American Bancorp, Inc. has a fifty-two week low of $27.23 and a fifty-two week high of $46.75. The stock has a market capitalization of $1.33 billion, a P/E ratio of 16.22 and a beta of 0.61.

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, topping the consensus estimate 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 company had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.80 million. On average, sell-side analysts expect that German American Bancorp, Inc. will post 2.74 earnings per share 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 $0.27 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.40%. German American Bancorp’s dividend payout ratio is currently 38.99%.

German American Bancorp 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.