Arizona State Retirement System Has $362,000 Stock Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Arizona State Retirement System increased its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,664 shares of the bank’s stock after buying an additional 1,076 shares during the quarter. Arizona State Retirement System’s holdings in German American Bancorp were worth $362,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of German American Bancorp by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,185 shares of the bank’s stock valued at $912,000 after purchasing an additional 2,704 shares in the last quarter. KBC Group NV bought a new stake in shares of German American Bancorp during the first quarter valued at approximately $55,000. Onyx Bridge Wealth Group LLC bought a new stake in German American Bancorp during the first quarter worth $254,000. Bank of America Corp DE grew its holdings in German American Bancorp by 28.0% during the fourth quarter. Bank of America Corp DE now owns 36,931 shares of the bank’s stock worth $1,485,000 after buying an additional 8,081 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in German American Bancorp by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,463 shares of the bank’s stock valued at $2,030,000 after purchasing an additional 6,817 shares during the period. Institutional investors own 46.90% of the company’s stock.

Insider Activity

In related news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the completion of the sale, the director owned 11,673 shares in the company, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 2,785 shares of company stock worth $112,078 in the last three months. Company insiders own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

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

German American Bancorp Price Performance

Shares of NASDAQ:GABC opened at $40.76 on Wednesday. German American Bancorp, Inc. has a twelve month low of $32.75 and a twelve month high of $47.08. The stock has a market capitalization of $1.53 billion, a PE ratio of 16.44 and a beta of 0.59. 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 firm’s 50 day moving average price is $39.02 and its 200-day moving average price is $38.64.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.07. The business had revenue of $81.41 million during the quarter, compared to analyst estimates of $79.60 million. German American Bancorp had a return on equity of 11.53% and a net margin of 19.78%. Equities research analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The firm also recently announced 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. This represents a $1.16 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Friday, May 9th. German American Bancorp’s dividend payout ratio is currently 46.77%.

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.