Baird Financial Group Inc. Raises Position in German American Bancorp, Inc. (NASDAQ:GABC)

Baird Financial Group Inc. increased its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 126.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,501 shares of the bank's stock after purchasing an additional 20,413 shares during the quarter. Baird Financial Group Inc. owned approximately 0.12% of German American Bancorp worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of German American Bancorp by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank's stock worth $37,000 after acquiring an additional 813 shares during the last quarter. Tower Research Capital LLC TRC grew its position in German American Bancorp by 399.5% during the 4th 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. Quantbot Technologies LP increased its stake in German American Bancorp by 15.2% during the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock valued at $119,000 after purchasing an additional 389 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in German American Bancorp in the fourth quarter worth about $201,000. Finally, KLP Kapitalforvaltning AS purchased a new position in German American Bancorp in the fourth quarter worth about $217,000. 46.90% of the stock is currently owned by institutional investors.

German American Bancorp Stock Performance

GABC stock traded down $0.35 during trading on Friday, reaching $39.53. The stock had a trading volume of 102,251 shares, compared to its average volume of 108,344. The stock's 50 day moving average is $37.27 and its two-hundred day moving average is $40.14. The firm has a market cap of $1.48 billion, a PE ratio of 14.02 and a beta of 0.61. German American Bancorp, Inc. has a 52 week low of $31.06 and a 52 week high of $47.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.07. The company had revenue of $81.41 million for the quarter, compared to the consensus estimate of $79.60 million. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. As a group, equities 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 Tuesday, May 20th. Investors of record on Saturday, May 10th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.16 dividend on an annualized basis and a yield of 2.93%. German American Bancorp's dividend payout ratio is currently 46.77%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler cut their target price on German American Bancorp from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Keefe, Bruyette & Woods upped their price target on German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, German American Bancorp presently has a consensus rating of "Hold" and a consensus price target of $45.20.

Insider Activity at German American Bancorp

In related news, Director Diane B. Medley acquired 1,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the purchase, the director now owns 5,370 shares in the company, valued at $210,557.70. The trade was a 22.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have purchased 1,177 shares of company stock worth $46,151. Corporate insiders own 6.16% of the company's stock.

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.