Principal Financial Group Inc. Has $648,000 Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Principal Financial Group Inc. lifted its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,275 shares of the bank’s stock after purchasing an additional 610 shares during the period. Principal Financial Group Inc.’s holdings in German American Bancorp were worth $648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. L.M. Kohn & Company increased its stake in German American Bancorp by 34.7% in the first quarter. L.M. Kohn & Company now owns 490,458 shares of the bank’s stock valued at $18,392,000 after acquiring an additional 126,236 shares during the period. First Trust Advisors LP grew its stake in German American Bancorp by 437.1% during the fourth quarter. First Trust Advisors LP now owns 96,438 shares of the bank’s stock worth $3,879,000 after buying an additional 78,482 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in German American Bancorp by 40.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 188,323 shares of the bank’s stock worth $7,574,000 after buying an additional 54,199 shares during the last quarter. Franklin Resources Inc. grew its stake in German American Bancorp by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank’s stock worth $70,336,000 after buying an additional 40,642 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in German American Bancorp during the fourth quarter worth about $847,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the business’s stock in a transaction that occurred 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 directly owned 11,673 shares of the company’s stock, valued at $461,667.15. The trade was a 17.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have purchased 2,785 shares of company stock worth $112,078. Insiders own 6.16% of the company’s stock.

German American Bancorp Stock Performance

NASDAQ GABC opened at $40.87 on Friday. The firm has a 50-day moving average of $38.97 and a 200-day moving average of $38.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.53 billion, a PE ratio of 16.48 and a beta of 0.59. German American Bancorp, Inc. has a 52-week low of $32.75 and a 52-week high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. The business had revenue of $81.41 million during the quarter, compared to analysts’ expectations of $79.60 million. German American Bancorp had a net margin of 19.78% and a return on equity of 11.53%. On average, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Saturday, May 10th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, May 9th. German American Bancorp’s dividend payout ratio (DPR) is presently 46.77%.

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.