Bank of America Corp DE Purchases 8,081 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Bank of America Corp DE increased its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,931 shares of the bank's stock after buying an additional 8,081 shares during the quarter. Bank of America Corp DE owned about 0.12% of German American Bancorp worth $1,485,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Aptus Capital Advisors LLC boosted its stake in shares of German American Bancorp by 40.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 188,323 shares of the bank's stock worth $7,574,000 after acquiring an additional 54,199 shares in the last quarter. Northern Trust Corp boosted its position in German American Bancorp by 5.0% during the fourth quarter. Northern Trust Corp now owns 277,393 shares of the bank's stock valued at $11,157,000 after purchasing an additional 13,330 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in shares of German American Bancorp by 60.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 52,365 shares of the bank's stock valued at $2,106,000 after buying an additional 19,780 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of German American Bancorp by 5.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,688 shares of the bank's stock worth $1,396,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of German American Bancorp in the 4th quarter valued at approximately $847,000. Institutional investors own 46.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.20.

German American Bancorp Stock Performance

Shares of GABC traded up $0.67 during mid-day trading on Friday, hitting $38.25. The company's stock had a trading volume of 108,050 shares, compared to its average volume of 109,185. The stock's 50-day moving average is $37.33 and its two-hundred day moving average is $39.60. The firm has a market capitalization of $1.43 billion, a PE ratio of 13.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp, Inc. has a one year low of $31.06 and a one year high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.07. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. The company had revenue of $81.41 million for the quarter, compared to analyst estimates of $79.60 million. As a group, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.03%. German American Bancorp's dividend payout ratio is currently 46.77%.

Insiders Place Their Bets

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the completion of the transaction, the director now directly owns 11,673 shares of the company's stock, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 135 shares of company stock worth $5,246 over the last 90 days. Corporate insiders own 6.16% of the company's stock.

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.