German American Bancorp, Inc. $GABC Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 38.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,378 shares of the bank’s stock after selling 50,054 shares during the quarter. Goldman Sachs Group Inc. owned 0.22% of German American Bancorp worth $3,052,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP raised its stake in shares of German American Bancorp by 10.8% during the first quarter. Quantbot Technologies LP now owns 3,272 shares of the bank’s stock valued at $123,000 after purchasing an additional 320 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in German American Bancorp by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 30,666 shares of the bank’s stock valued at $1,150,000 after acquiring an additional 375 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in German American Bancorp by 3.4% in the 4th 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 last quarter. PNC Financial Services Group Inc. raised its stake in shares of German American Bancorp by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 24,171 shares of the bank’s stock valued at $906,000 after purchasing an additional 546 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of German American Bancorp by 3.7% during the first quarter. Principal Financial Group Inc. now owns 17,275 shares of the bank’s stock worth $648,000 after purchasing an additional 610 shares during the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GABC has been the topic of a number of research analyst reports. Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler upped 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.00.

German American Bancorp Trading Down 1.6%

Shares of GABC stock opened at $40.80 on Friday. German American Bancorp, Inc. has a 12-month low of $32.75 and a 12-month high of $47.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $40.31 and a two-hundred day moving average price of $38.77. The firm has a market cap of $1.53 billion, a P/E ratio of 15.51 and a beta of 0.65.

German American Bancorp (NASDAQ:GABC) last released its 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 during the quarter, compared to analyst estimates of $91.93 million. Equities analysts anticipate that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

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

Insider Buying and Selling at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 882 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were acquired at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the purchase, the director directly owned 6,252 shares of the company’s stock, valued at $237,263.40. The trade was a 16.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders acquired 3,352 shares of company stock worth $133,482. 6.16% of the stock is owned by corporate insiders.

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.