German American Bancorp, Inc. $GABC Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 18.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,174 shares of the bank’s stock after selling 18,903 shares during the quarter. American Century Companies Inc. owned 0.22% of German American Bancorp worth $3,157,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of German American Bancorp by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,666 shares of the bank’s stock worth $1,150,000 after purchasing an additional 375 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of German American Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank’s stock worth $652,000 after purchasing an additional 536 shares during the period. PNC Financial Services Group Inc. lifted 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 worth $906,000 after purchasing an additional 546 shares during the period. Principal Financial Group Inc. raised its position in German American Bancorp by 3.7% in the first quarter. Principal Financial Group Inc. now owns 17,275 shares of the bank’s stock worth $648,000 after acquiring an additional 610 shares in the last quarter. Finally, Silver Oak Securities Incorporated purchased a new position in German American Bancorp in the first quarter worth $28,000. 46.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley purchased 882 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the transaction, the director directly owned 6,252 shares in the company, valued at $237,263.40. This represents a 16.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 3,580 shares of company stock valued at $142,096 in the last three months. Company insiders own 6.16% of the company’s stock.

Analysts Set New Price Targets

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

German American Bancorp Trading Down 0.4%

Shares of GABC stock opened at $41.78 on Friday. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08. The stock has a market cap of $1.57 billion, a P/E ratio of 15.89 and a beta of 0.62. The business has a fifty day simple moving average of $39.93 and a 200-day simple moving average of $38.63. 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 announced 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 business had revenue of $91.16 million during the quarter, compared to analysts’ expectations of $91.93 million. On average, analysts forecast that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Sunday, August 10th were given a $0.29 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.8%. German American Bancorp’s dividend payout ratio (DPR) is currently 44.11%.

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.