German American Bancorp, Inc. (NASDAQ:GABC) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its position in German American Bancorp, Inc. (NASDAQ:GABC) by 11.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,893 shares of the bank’s stock after acquiring an additional 5,609 shares during the quarter. Rhumbline Advisers owned about 0.14% of German American Bancorp worth $1,983,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Quantbot Technologies LP increased its position in German American Bancorp by 15.2% during the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank’s stock worth $119,000 after purchasing an additional 389 shares during the period. Forvis Mazars Wealth Advisors LLC boosted its stake in German American Bancorp by 4.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank’s stock worth $417,000 after buying an additional 405 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of German American Bancorp by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,291 shares of the bank’s stock valued at $1,218,000 after purchasing an additional 408 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in German American Bancorp by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank’s stock valued at $652,000 after buying an additional 536 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of German American Bancorp by 399.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank’s stock worth $39,000 after purchasing an additional 775 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors and hedge funds.

German American Bancorp Stock Performance

Shares of NASDAQ GABC opened at $36.95 on Tuesday. German American Bancorp, Inc. has a 52-week low of $31.96 and a 52-week high of $47.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.10 and a beta of 0.59. The stock’s fifty day simple moving average is $37.67 and its 200 day simple moving average is $39.16.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. The business had revenue of $81.41 million for the quarter, compared to analyst estimates of $79.60 million. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. As a group, sell-side analysts forecast that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Saturday, May 10th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.16 dividend on an annualized basis and a yield of 3.14%. German American Bancorp’s dividend payout ratio (DPR) is presently 46.77%.

Insiders Place Their Bets

In related news, Director Jason M. Kelly sold 2,515 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total transaction of $99,468.25. Following the sale, the director now directly owns 11,673 shares in the company, valued at $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 113 shares of company stock valued at $4,389 in the last 90 days. 6.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on German American Bancorp from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.20.

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.