Martingale Asset Management L P Takes $484,000 Position in German American Bancorp, Inc. (NASDAQ:GABC)

Martingale Asset Management L P acquired a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 12,500 shares of the bank’s stock, valued at approximately $484,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. German American Bancorp Inc. grew its stake in shares of German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after acquiring an additional 316,400 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in German American Bancorp during the second quarter worth $5,887,000. Royce & Associates LP grew its position in German American Bancorp by 43.3% in the third quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock valued at $5,160,000 after purchasing an additional 40,219 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in German American Bancorp by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock valued at $36,988,000 after buying an additional 32,816 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in German American Bancorp during the 2nd quarter worth about $1,034,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

Analysts Set New Price Targets

GABC has been the topic of a number of recent research reports. Stephens assumed coverage on German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price on the stock. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, German American Bancorp currently has a consensus rating of “Hold” and a consensus target price of $45.25.

German American Bancorp Trading Down 0.2 %

German American Bancorp stock opened at $44.83 on Wednesday. The stock has a 50-day simple moving average of $41.74 and a 200 day simple moving average of $38.33. The stock has a market capitalization of $1.33 billion, a P/E ratio of 16.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp, Inc. has a 52 week low of $29.61 and a 52 week high of $47.08.

German American Bancorp (NASDAQ:GABC) last posted its 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. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The business had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. Analysts expect that German American Bancorp, Inc. will post 2.76 earnings per share for the current year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, November 8th. German American Bancorp’s payout ratio is presently 38.99%.

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.