Vanguard Group Inc. Boosts Position in German American Bancorp, Inc. $GABC

Vanguard Group Inc. grew its position in German American Bancorp, Inc. (NASDAQ:GABC) by 20.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,106,784 shares of the bank’s stock after buying an additional 357,360 shares during the quarter. Vanguard Group Inc. owned 5.63% of German American Bancorp worth $79,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Silver Oak Securities Incorporated acquired a new stake in German American Bancorp in the 1st quarter valued at about $28,000. Cubist Systematic Strategies LLC purchased a new stake in shares of German American Bancorp in the fourth quarter valued at about $35,000. Tower Research Capital LLC TRC grew its position in shares of German American Bancorp by 399.5% in the fourth 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. KBC Group NV purchased a new position in shares of German American Bancorp during the 1st quarter worth approximately $55,000. Finally, GAMMA Investing LLC raised its position in shares of German American Bancorp by 2,933.8% during the 1st quarter. GAMMA Investing LLC now owns 2,063 shares of the bank’s stock worth $77,000 after purchasing an additional 1,995 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

Insider Buying and Selling

In other German American Bancorp news, Director Diane B. Medley purchased 882 shares of German American Bancorp stock in a transaction on Monday, August 4th. The shares were purchased at an average cost of $37.95 per share, with a total value of $33,471.90. Following the completion of the transaction, the director directly owned 6,252 shares in the company, valued at approximately $237,263.40. This represents a 16.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 3,580 shares of company stock valued at $142,096 in the last 90 days. Company insiders own 6.16% of the company’s stock.

German American Bancorp Price Performance

German American Bancorp stock opened at $41.79 on Friday. German American Bancorp, Inc. has a 1 year low of $32.75 and a 1 year high of $47.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $39.43 and a 200 day moving average price of $38.59. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 15.89 and a beta of 0.62.

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, beating analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $91.16 million during the quarter, compared to the consensus estimate of $91.93 million. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%. Sell-side analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Sunday, August 10th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 8th. German American Bancorp’s dividend payout ratio is 44.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GABC shares. Piper Sandler increased their target price on German American Bancorp from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Wall Street Zen upgraded German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, German American Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

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.