Geode Capital Management LLC Buys 11,386 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Geode Capital Management LLC lifted its position in German American Bancorp, Inc. (NASDAQ:GABC) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,094 shares of the bank’s stock after acquiring an additional 11,386 shares during the quarter. Geode Capital Management LLC owned approximately 2.37% of German American Bancorp worth $27,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in German American Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock worth $39,930,000 after purchasing an additional 14,478 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock valued at $36,988,000 after acquiring an additional 32,816 shares in the last quarter. State Street Corp increased its position in shares of German American Bancorp by 6.9% during the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after acquiring an additional 50,206 shares during the last quarter. German American Bancorp Inc. lifted its holdings in German American Bancorp by 160.1% during the third 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 during the period. Finally, Bank of New York Mellon Corp boosted its position in German American Bancorp by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank’s stock worth $7,166,000 after purchasing an additional 8,028 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Trading Up 0.4 %

Shares of GABC opened at $41.11 on Friday. German American Bancorp, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $47.08. The business has a 50-day moving average of $43.38 and a 200 day moving average of $39.62. The firm has a market cap of $1.22 billion, a P/E ratio of 14.84 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 (NASDAQ:GABC) last issued 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 net margin of 23.75% and a return on equity of 11.94%. The firm had revenue of $62.40 million during the quarter, compared to analyst estimates of $62.80 million. As a group, research analysts forecast that German American Bancorp, Inc. will post 2.76 EPS for the current year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a yield of 2.63%. German American Bancorp’s payout ratio is 38.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GABC. Keefe, Bruyette & Woods raised their target price on German American Bancorp from $43.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens initiated coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price objective for the company. Finally, Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.40.

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.