515,629 Shares in German American Bancorp, Inc. $GABC Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. purchased 515,629 shares of German American Bancorp, Inc. for approximately $19.3 million, acquiring 1.38% ownership of the bank's stock.
• Recent research reports have upgraded German American Bancorp's stock rating from "sell" to "hold," with an average price target now set at $46.00.
• The bank announced a quarterly dividend of $0.29 per share, resulting in a 2.8% dividend yield based on its annualized dividend.

Raymond James Financial Inc. acquired a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 515,629 shares of the bank's stock, valued at approximately $19,336,000. Raymond James Financial Inc. owned approximately 1.38% of German American Bancorp at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in German American Bancorp by 20.4% during the first quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock valued at $79,004,000 after purchasing an additional 357,360 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in German American Bancorp by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,140,813 shares of the bank's stock valued at $45,884,000 after purchasing an additional 8,659 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in German American Bancorp by 11.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,170 shares of the bank's stock valued at $41,594,000 after purchasing an additional 109,789 shares in the last quarter. L.M. Kohn & Company boosted its holdings in German American Bancorp by 34.7% during the first quarter. L.M. Kohn & Company now owns 490,458 shares of the bank's stock valued at $18,392,000 after purchasing an additional 126,236 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in German American Bancorp by 35.5% during the first quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock valued at $16,116,000 after purchasing an additional 112,539 shares in the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

German American Bancorp Price Performance

Shares of GABC traded down $0.18 on Monday, hitting $41.78. The company's stock had a trading volume of 81,615 shares, compared to its average volume of 108,119. The company has a market capitalization of $1.57 billion, a PE ratio of 15.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08. The company has a 50 day moving average price of $39.93 and a 200 day moving average price of $38.62.

German American Bancorp (NASDAQ:GABC - Get Free Report) last announced 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 business had revenue of $91.16 million for the quarter, compared to the consensus estimate of $91.93 million. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%. On average, research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Sunday, August 10th were given a $0.29 dividend. 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 payout ratio is 44.11%.

Insiders Place Their Bets

In related news, Director Diane B. Medley acquired 882 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the transaction, the director directly owned 6,252 shares of the company's stock, valued at approximately $237,263.40. This trade represents a 16.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 3,580 shares of company stock valued at $142,096. Insiders own 4.59% of the company's stock.

Analysts Set New Price Targets

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

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.