Allianz Asset Management GmbH Purchases 3,500 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Allianz Asset Management GmbH lifted its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 31.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,800 shares of the bank’s stock after acquiring an additional 3,500 shares during the quarter. Allianz Asset Management GmbH’s holdings in German American Bancorp were worth $555,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Silver Oak Securities Incorporated acquired a new stake in shares of German American Bancorp in the first quarter valued at approximately $28,000. Cubist Systematic Strategies LLC acquired a new position in German American Bancorp during the 4th quarter worth $35,000. Sterling Capital Management LLC boosted its position in German American Bancorp by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 912 shares of the bank’s stock valued at $37,000 after buying an additional 813 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of German American Bancorp by 399.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank’s stock valued at $39,000 after buying an additional 775 shares during the period. Finally, KBC Group NV acquired a new stake in shares of German American Bancorp in the 1st quarter valued at $55,000. 46.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jason M. Kelly sold 2,515 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was 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 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 legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders bought 2,785 shares of company stock worth $112,078. 6.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GABC. Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler boosted their price objective on German American Bancorp from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.00.

German American Bancorp Price Performance

GABC opened at $37.61 on Friday. The company has a fifty day moving average price of $39.08 and a two-hundred day moving average price of $38.70. The firm has a market capitalization of $1.41 billion, a PE ratio of 14.30 and a beta of 0.62. German American Bancorp, Inc. has a 52 week low of $32.75 and a 52 week high of $47.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, July 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. German American Bancorp had a return on equity of 12.40% and a net margin of 20.84%. The business had revenue of $91.16 million for the quarter, compared to analyst estimates of $91.93 million. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 8th. This represents a $1.16 dividend on an annualized basis and a yield of 3.1%. German American Bancorp’s dividend payout ratio (DPR) 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.