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

Cerity Partners LLC raised its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds have also modified their holdings of GABC. Silver Oak Securities Incorporated bought a new position in shares of German American Bancorp during the first quarter worth $28,000. Cubist Systematic Strategies LLC purchased a new stake in German American Bancorp in the 4th quarter worth $35,000. Sterling Capital Management LLC boosted its holdings in shares of German American Bancorp by 821.2% during the 4th quarter. Sterling Capital Management LLC now owns 912 shares of the bank’s stock valued at $37,000 after purchasing an additional 813 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of German American Bancorp by 399.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank’s stock valued at $39,000 after purchasing an additional 775 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of German American Bancorp during the first quarter valued at about $55,000. 46.90% of the stock is currently owned by institutional investors.

Insider Activity at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 11,673 shares of the company’s stock, valued at $461,667.15. This represents a 17.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders bought 2,785 shares of company stock worth $112,078. 4.59% of the stock is owned by company insiders.

German American Bancorp Stock Down 0.2%

Shares of German American Bancorp 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. The company has a market cap of $1.53 billion, a P/E ratio of 16.44 and a beta of 0.59. The firm’s 50 day moving average price is $39.02 and its 200-day moving average price is $38.64. 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 earnings results on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. German American Bancorp had a return on equity of 11.53% and a net margin of 19.78%. The company had revenue of $81.41 million during the quarter, compared to analyst estimates of $79.60 million. On average, sell-side analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

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

Analysts Set New Price Targets

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

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.