Arizona State Retirement System Acquires 1,076 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Arizona State Retirement System grew its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 12.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,664 shares of the bank’s stock after purchasing an additional 1,076 shares during the quarter. Arizona State Retirement System’s holdings in German American Bancorp were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GABC. Silver Oak Securities Incorporated purchased a new position in shares of German American Bancorp during the first quarter worth about $28,000. Cubist Systematic Strategies LLC purchased a new position in shares of German American Bancorp during the fourth quarter worth about $35,000. Sterling Capital Management LLC grew its holdings in shares of German American Bancorp by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank’s stock worth $37,000 after purchasing an additional 813 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings 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. Finally, KBC Group NV purchased a new position in shares of German American Bancorp during the first quarter worth about $55,000. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Down 0.2%

Shares of GABC stock opened at $40.76 on Wednesday. The company’s fifty day simple moving average is $39.02 and its two-hundred day simple moving average is $38.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.53 billion, a P/E ratio of 16.44 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 results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.72 by $0.07. The company had revenue of $81.41 million for the quarter, compared to the consensus estimate of $79.60 million. German American Bancorp had a net margin of 19.78% and a return on equity of 11.53%. Analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 2.85%. German American Bancorp’s dividend payout ratio (DPR) is presently 46.77%.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, German American Bancorp presently has an average rating of “Hold” and an average target price of $45.20.

Insider Transactions at German American Bancorp

In related news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total value of $99,468.25. Following the completion of the sale, the director directly owned 11,673 shares in the company, valued at $461,667.15. This trade represents a 17.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 2,785 shares of company stock valued at $112,078 in the last 90 days. 4.59% of the stock is owned by insiders.

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.