Bank of America Corp DE Purchases 74,406 Shares of German American Bancorp, Inc. $GABC

Key Points

• Bank of America acquired 74,406 shares of German American Bancorp in the second quarter, worth approximately $3.53 million and representing a 0.20% stake. Institutional investors collectively own 46.9% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $53.33, above its reported $48.82 trading price.
• German American Bancorp exceeded quarterly earnings expectations, reporting $1.02 EPS versus $0.92 estimated, and pays a quarterly dividend of $0.31 per share, implying a 2.5% annualized yield.

Bank of America Corp DE acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 74,406 shares of the bank's stock, valued at approximately $3,531,000. Bank of America Corp DE owned 0.20% of German American Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in German American Bancorp during the 2nd quarter valued at about $142,155,000. Dimensional Fund Advisors LP lifted its position in shares of German American Bancorp by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank's stock worth $50,982,000 after purchasing an additional 31,627 shares during the period. German American Bancorp Inc. lifted its position in shares of German American Bancorp by 1.3% in the 1st quarter. German American Bancorp Inc. now owns 966,872 shares of the bank's stock worth $40,406,000 after purchasing an additional 12,585 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of German American Bancorp during the second quarter valued at approximately $14,364,000. Finally, Aptus Capital Advisors LLC increased its holdings in German American Bancorp by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 269,597 shares of the bank's stock valued at $10,563,000 after buying an additional 1,176 shares during the period. 46.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GABC has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $60.00 price target (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of German American Bancorp from $47.00 to $51.00 and gave the stock a "market perform" rating in a research report on Thursday, July 30th. Wall Street Zen raised German American Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings raised German American Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, September 17th. Finally, Raymond James Financial began coverage on shares of German American Bancorp in a report on Wednesday, July 8th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $53.33.

German American Bancorp Trading Down 1.1%

Shares of NASDAQ:GABC opened at $48.82 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. German American Bancorp, Inc. has a 12-month low of $37.19 and a 12-month high of $52.23. The business has a 50 day moving average of $49.83 and a two-hundred day moving average of $46.10. The company has a market capitalization of $1.83 billion, a PE ratio of 12.88 and a beta of 0.58.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The bank reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. The business had revenue of $99.95 million during the quarter, compared to the consensus estimate of $99.22 million. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. As a group, analysts forecast that German American Bancorp, Inc. will post 3.88 EPS for the current year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a dividend of $0.31 per share. The ex-dividend date was Monday, August 10th. This represents a $1.24 dividend on an annualized basis and a yield of 2.5%. German American Bancorp's dividend payout ratio is currently 32.72%.

German American Bancorp Company Profile

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides a range of banking and financial services to individuals, families, farmers, businesses and other organizations.

Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.

German American Bancorp traces its history to the founding of German American Bank in 1910.

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