German American Bancorp, Inc. (NASDAQ:GABC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,422 shares of the bank’s stock after selling 4,115 shares during the period. Fisher Asset Management LLC’s holdings in German American Bancorp were worth $1,829,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GABC. SG Americas Securities LLC acquired a new position in shares of German American Bancorp in the 4th quarter valued at $142,000. Teacher Retirement System of Texas acquired a new position in German American Bancorp during the third quarter worth approximately $279,000. Mirae Asset Global Investments Co. Ltd. raised its position in German American Bancorp by 8.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,885 shares of the bank’s stock valued at $418,000 after purchasing an additional 961 shares during the last quarter. Glenview Trust co boosted its stake in German American Bancorp by 6.0% during the 3rd quarter. Glenview Trust co now owns 17,738 shares of the bank’s stock worth $481,000 after purchasing an additional 1,000 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in German American Bancorp by 43.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,675 shares of the bank’s stock worth $560,000 after purchasing an additional 6,248 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Up 0.6 %

Shares of German American Bancorp stock opened at $32.31 on Thursday. German American Bancorp, Inc. has a one year low of $24.85 and a one year high of $34.96. The company has a market cap of $955.73 million, a P/E ratio of 11.34 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.79. The firm has a fifty day moving average of $32.67 and a two-hundred day moving average of $31.59.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, April 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. The business had revenue of $84.08 million for the quarter, compared to analyst estimates of $61.05 million. German American Bancorp had a net margin of 25.83% and a return on equity of 13.98%. On average, analysts forecast that German American Bancorp, Inc. will post 2.53 earnings per share for the current year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, May 9th. German American Bancorp’s dividend payout ratio (DPR) is 37.89%.

Insider Activity

In other German American Bancorp news, Director Diane B. Medley acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $33.64 per share, with a total value of $33,640.00. Following the completion of the acquisition, the director now directly owns 3,660 shares of the company’s stock, valued at approximately $123,122.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 1,107 shares of company stock valued at $37,113 in the last three months. 4.59% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GABC has been the subject of several recent research reports. Piper Sandler increased their target price on shares of German American Bancorp from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Raymond James increased their price objective on German American Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st.

German American Bancorp 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.