159,662 Shares in German American Bancorp, Inc. $GABC Purchased by Focus Partners Wealth

Key Points

• Focus Partners Wealth has acquired 159,662 shares of German American Bancorp, Inc. valued at approximately $5.99 million, increasing its ownership to 0.43% of the bank.
• German American Bancorp recently declared a quarterly dividend of $0.29 per share, yielding 2.8%, with a payout ratio of 44.11%.
• The company reported earnings per share (EPS) of $0.86 for the last quarter, exceeding the consensus estimate by $0.03, while analysts expect an annual EPS of 3.06.

Focus Partners Wealth purchased a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 159,662 shares of the bank's stock, valued at approximately $5,987,000. Focus Partners Wealth owned about 0.43% of German American Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated acquired a new stake in German American Bancorp during the first quarter worth approximately $28,000. SouthState Corp acquired a new stake in German American Bancorp during the first quarter worth approximately $28,000. Cubist Systematic Strategies LLC acquired a new stake in German American Bancorp during the fourth quarter worth approximately $35,000. KBC Group NV acquired a new stake in German American Bancorp during the first quarter worth approximately $55,000. Finally, GAMMA Investing LLC raised its holdings in German American Bancorp by 2,933.8% during the first quarter. GAMMA Investing LLC now owns 2,063 shares of the bank's stock worth $77,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company's stock.

Insider Activity at German American Bancorp

In related news, Director Diane B. Medley bought 882 shares of the firm's stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $37.95 per share, for a total transaction of $33,471.90. Following the transaction, the director owned 6,252 shares of the company's stock, valued at approximately $237,263.40. This trade represents a 16.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 3,352 shares of company stock worth $133,482. 6.16% of the stock is currently owned by insiders.

German American Bancorp Stock Performance

NASDAQ:GABC traded down $0.66 during midday trading on Friday, reaching $40.80. The stock had a trading volume of 260,908 shares, compared to its average volume of 116,295. The firm has a fifty day simple moving average of $40.31 and a two-hundred day simple moving average of $38.77. 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 stock 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 - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $91.16 million for the quarter, compared to analyst estimates of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. On average, equities analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GABC shares. Wall Street Zen raised shares of German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler lifted their target price on shares of German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.00.

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.