Balyasny Asset Management L.P. Acquires New Position in German American Bancorp, Inc. (NASDAQ:GABC)

Balyasny Asset Management L.P. purchased a new stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,013 shares of the bank's stock, valued at approximately $363,000.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in German American Bancorp by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 912 shares of the bank's stock valued at $37,000 after buying an additional 813 shares during the period. Tower Research Capital LLC TRC boosted its stake in German American Bancorp by 399.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock worth $39,000 after buying an additional 775 shares during the period. Quantbot Technologies LP increased its position in shares of German American Bancorp by 15.2% during the fourth quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock valued at $119,000 after acquiring an additional 389 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of German American Bancorp during the fourth quarter valued at about $201,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of German American Bancorp in the 4th quarter valued at approximately $217,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total value of $99,468.25. Following the sale, the director now directly owns 11,673 shares in the company, valued at $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane B. Medley bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $39.21 per share, with a total value of $39,210.00. Following the purchase, the director now owns 5,370 shares of the company's stock, valued at $210,557.70. The trade was a 22.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,135 shares of company stock valued at $44,456. Insiders own 6.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods raised their price target on German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.20.

German American Bancorp Stock Down 0.1%

German American Bancorp stock traded down $0.03 during mid-day trading on Thursday, reaching $38.38. 6,778 shares of the company's stock were exchanged, compared to its average volume of 108,295. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a twelve month low of $31.06 and a twelve month high of $47.08. The company has a market cap of $1.44 billion, a P/E ratio of 13.60 and a beta of 0.61. The company has a fifty day moving average of $37.37 and a 200-day moving average of $40.11.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, topping the consensus estimate of $0.72 by $0.07. The firm had revenue of $81.41 million during the quarter, compared to analysts' expectations of $79.60 million. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. Sell-side analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Friday, May 9th. German American Bancorp's dividend payout ratio (DPR) is presently 46.77%.

German American Bancorp Company 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.