Nuveen LLC Purchases Shares of 64,178 German American Bancorp, Inc. $GABC

Nuveen LLC purchased a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 64,178 shares of the bank’s stock, valued at approximately $2,407,000. Nuveen LLC owned about 0.17% of German American Bancorp as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Swiss National Bank raised its holdings in shares of German American Bancorp by 12.3% during the first quarter. Swiss National Bank now owns 65,550 shares of the bank’s stock valued at $2,458,000 after acquiring an additional 7,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of German American Bancorp by 11.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,170 shares of the bank’s stock valued at $41,594,000 after acquiring an additional 109,789 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of German American Bancorp by 20.4% during the first quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank’s stock valued at $79,004,000 after acquiring an additional 357,360 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of German American Bancorp by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 24,171 shares of the bank’s stock valued at $906,000 after acquiring an additional 546 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of German American Bancorp during the first quarter valued at approximately $735,000. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Trading Down 0.4%

GABC opened at $41.78 on Friday. German American Bancorp, Inc. has a 52 week low of $32.75 and a 52 week high of $47.08. The business has a fifty day simple moving average of $39.93 and a 200-day simple moving average of $38.64. The firm has a market cap of $1.57 billion, a P/E ratio of 15.89 and a beta of 0.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results 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. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%.The company had revenue of $91.16 million for the quarter, compared to analysts’ expectations of $91.93 million. On average, equities analysts expect 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 was paid on Wednesday, August 20th. Investors of record on Sunday, August 10th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. German American Bancorp’s dividend payout ratio is presently 44.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on GABC shares. Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.00.

Insider Transactions at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 882 shares of the business’s stock in a transaction on Monday, August 4th. The stock was bought at an average cost of $37.95 per share, for a total transaction of $33,471.90. Following the acquisition, the director owned 6,252 shares of the company’s stock, valued at approximately $237,263.40. The trade was a 16.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders purchased 3,580 shares of company stock valued at $142,096. 6.16% of the stock is currently owned by corporate insiders.

About German American Bancorp

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.