Cerity Partners LLC Buys 1,176 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Cerity Partners LLC raised its position in German American Bancorp, Inc. (NASDAQ:GABC) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,423 shares of the bank’s stock after purchasing an additional 1,176 shares during the quarter. Cerity Partners LLC owned 0.07% of German American Bancorp worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 buying an additional 2,704 shares during the last quarter. KBC Group NV purchased a new stake in German American Bancorp during the first quarter valued at about $55,000. Onyx Bridge Wealth Group LLC purchased a new stake in German American Bancorp during the first quarter valued at about $254,000. Bank of America Corp DE boosted its position in German American Bancorp by 28.0% during the 4th quarter. Bank of America Corp DE now owns 36,931 shares of the bank’s stock valued at $1,485,000 after buying an additional 8,081 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of German American Bancorp by 15.6% during 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 in the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were 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 of the company’s stock, valued at $461,667.15. The trade was a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have purchased 2,785 shares of company stock worth $112,078. 4.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on 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 assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, German American Bancorp has an average rating of “Hold” and an average target price of $45.20.

German American Bancorp Trading Down 0.2%

GABC stock opened at $40.76 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21. 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 price-to-earnings ratio of 16.44 and a beta of 0.59. The firm’s fifty day simple moving average is $39.02 and its two-hundred day simple moving average is $38.64.

German American Bancorp (NASDAQ:GABC) last issued its earnings results 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 return on equity of 11.53% and a net margin of 19.78%. As a group, analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Announces Dividend

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. 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 2.85%. German American Bancorp’s dividend payout ratio is presently 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.