KLP Kapitalforvaltning AS Grows Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

KLP Kapitalforvaltning AS lifted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 51.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the bank’s stock after buying an additional 2,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in German American Bancorp were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GABC. Silver Oak Securities Incorporated bought a new position in German American Bancorp during the 1st quarter worth approximately $28,000. Cubist Systematic Strategies LLC acquired a new stake in shares of German American Bancorp during the 4th quarter valued at approximately $35,000. Sterling Capital Management LLC lifted its stake in 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 during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 during the last quarter. Finally, KBC Group NV acquired a new position in German American Bancorp in the first quarter worth $55,000. Institutional investors own 46.90% of the company’s stock.

Insider Buying and Selling

In related news, Director Jason M. Kelly sold 2,515 shares of the firm’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 completion of the sale, the director directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 2,785 shares of company stock valued at $112,078 in the last quarter. 6.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their target price on shares of German American Bancorp from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday.

German American Bancorp Price Performance

Shares of NASDAQ:GABC opened at $38.42 on Friday. German American Bancorp, Inc. has a 52 week low of $32.75 and a 52 week high of $47.08. The firm has a market capitalization of $1.44 billion, a P/E ratio of 14.61 and a beta of 0.59. The firm’s 50 day moving average is $39.09 and its two-hundred day moving average is $38.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, July 28th. The bank reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $91.16 million for the quarter, compared to analysts’ expectations of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 12.40%. Analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th will be given a $0.29 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.16 annualized dividend and a yield of 3.0%. German American Bancorp’s payout ratio is 44.11%.

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.