Short Interest in German American Bancorp, Inc. (NASDAQ:GABC) Decreases By 46.3%

German American Bancorp, Inc. (NASDAQ:GABC) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 923,500 shares, a decline of 46.3% from the January 31st total of 1,720,000 shares. Based on an average trading volume of 108,900 shares, the days-to-cover ratio is currently 8.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Piper Sandler lowered their price target on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.40.

German American Bancorp Trading Up 0.8 %

Shares of NASDAQ GABC traded up $0.32 during mid-day trading on Friday, reaching $39.92. The company had a trading volume of 153,774 shares, compared to its average volume of 114,897. The business’s 50-day moving average is $39.95 and its 200-day moving average is $40.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 14.16 and a beta of 0.64. German American Bancorp has a 52 week low of $30.66 and a 52 week high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. Equities analysts expect that German American Bancorp will post 3.06 earnings per share for the current year.

German American Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.91%. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 10th. German American Bancorp’s dividend payout ratio is presently 41.13%.

Insider Transactions at German American Bancorp

In related news, Director Diane B. Medley purchased 1,000 shares of German American Bancorp stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the purchase, the director now directly owns 5,370 shares of the company’s stock, valued at $210,557.70. The trade was a 22.88 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 1,083 shares of company stock worth $42,607 over the last three months. 6.16% of the stock is currently owned by company insiders.

Institutional Trading of German American Bancorp

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in shares of German American Bancorp in the 3rd quarter valued at approximately $597,000. Barclays PLC raised its position in shares of German American Bancorp by 577.6% in the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank’s stock valued at $2,684,000 after purchasing an additional 59,048 shares during the last quarter. State Street Corp raised its position in shares of German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after purchasing an additional 50,206 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of German American Bancorp by 154.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank’s stock valued at $2,358,000 after purchasing an additional 36,954 shares during the last quarter. Finally, German American Bancorp Inc. raised its position in shares of German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after purchasing an additional 316,400 shares during the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

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.