Russell Investments Group Ltd. Sells 2,324 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Russell Investments Group Ltd. lowered its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 67,609 shares of the bank’s stock after selling 2,324 shares during the quarter. Russell Investments Group Ltd. owned 0.23% of German American Bancorp worth $2,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in German American Bancorp by 1.4% during the third quarter. BlackRock Inc. now owns 2,026,667 shares of the bank’s stock worth $72,371,000 after buying an additional 27,770 shares during the period. Vanguard Group Inc. raised its position in German American Bancorp by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 1,328,941 shares of the bank’s stock worth $50,486,000 after purchasing an additional 108,035 shares during the period. State Street Corp lifted its stake in German American Bancorp by 5.4% in the third quarter. State Street Corp now owns 577,731 shares of the bank’s stock worth $20,631,000 after purchasing an additional 29,589 shares during the last quarter. Geode Capital Management LLC lifted its stake in German American Bancorp by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 535,375 shares of the bank’s stock worth $19,969,000 after purchasing an additional 15,335 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of German American Bancorp by 26.0% during the first quarter. The Manufacturers Life Insurance Company now owns 494,324 shares of the bank’s stock valued at $18,779,000 after buying an additional 102,098 shares during the last quarter. Hedge funds and other institutional investors own 44.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas W. Seger bought 3,131 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $30.03 per share, with a total value of $94,023.93. Following the transaction, the director now owns 407,247 shares of the company’s stock, valued at $12,229,627.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Thomas W. Seger acquired 3,131 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $30.03 per share, for a total transaction of $94,023.93. Following the purchase, the director now directly owns 407,247 shares of the company’s stock, valued at approximately $12,229,627.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas W. Seger acquired 5,869 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average cost of $30.67 per share, for a total transaction of $180,002.23. Following the transaction, the director now owns 404,116 shares of the company’s stock, valued at $12,394,237.72. The disclosure for this purchase can be found here. Insiders acquired 17,599 shares of company stock valued at $524,214 over the last 90 days. Corporate insiders own 6.16% of the company’s stock.

German American Bancorp Stock Down 1.0 %

Shares of NASDAQ:GABC opened at $28.45 on Friday. The business’s 50 day moving average is $28.61 and its 200 day moving average is $31.08. The stock has a market cap of $841.27 million, a P/E ratio of 9.12 and a beta of 0.66. German American Bancorp, Inc. has a 52-week low of $26.03 and a 52-week high of $40.70. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings results on Monday, July 31st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. German American Bancorp had a return on equity of 16.27% and a net margin of 30.75%. The firm had revenue of $63.15 million for the quarter, compared to analyst estimates of $62.55 million. Sell-side analysts predict that German American Bancorp, Inc. will post 2.8 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, August 20th. Investors of record on Thursday, August 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.51%. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, August 9th. German American Bancorp’s dividend payout ratio (DPR) is presently 32.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on GABC shares. StockNews.com started coverage on German American Bancorp in a research report on Thursday, August 17th. They set a “sell” rating for the company. TheStreet lowered shares of German American Bancorp from a “b-” rating to a “c+” rating in a report on Friday, May 19th.

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.