AlphaQuest LLC acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC – Free Report) 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
German American Bancorp (NASDAQ:GABC – Get Free Report) 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.
View Our Latest Research Report on German American Bancorp
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.
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