AlphaQuest LLC Purchases New Position in German American Bancorp, Inc. (NASDAQ:GABC)

AlphaQuest LLC acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,915 shares of the bank’s stock, valued at approximately $318,000.

A number of other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock worth $67,557,000 after acquiring an additional 196,003 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in German American Bancorp by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock worth $40,195,000 after purchasing an additional 44,845 shares in the last quarter. State Street Corp boosted its stake in shares of German American Bancorp by 6.9% during 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of German American Bancorp by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock valued at $27,289,000 after purchasing an additional 11,386 shares in the last quarter. Finally, German American Bancorp Inc. increased its position in shares of German American Bancorp by 160.1% during the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after buying an additional 316,400 shares during the period. 46.90% of the stock is currently owned by institutional investors.

Insider Activity

In other German American Bancorp news, Director Diane B. Medley bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the transaction, the director now owns 5,370 shares of the company’s stock, valued at $210,557.70. This represents a 22.88 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 1,083 shares of company stock valued at $42,607 in the last quarter. 6.16% of the stock is currently owned by insiders.

German American Bancorp Price Performance

Shares of GABC opened at $38.66 on Friday. German American Bancorp, Inc. has a fifty-two week low of $31.06 and a fifty-two week high of $47.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $1.45 billion, a PE ratio of 13.71 and a beta of 0.60. The firm’s 50-day simple moving average is $39.62 and its two-hundred day simple moving average is $40.80.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. Analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.00%. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s payout ratio is presently 41.13%.

Wall Street Analysts Forecast Growth

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

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.