Beese Fulmer Investment Management Inc. Takes $482,000 Position in German American Bancorp, Inc. (NASDAQ:GABC)

Beese Fulmer Investment Management Inc. acquired a new stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,850 shares of the bank's stock, valued at approximately $482,000.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its position in shares of German American Bancorp by 577.6% in the third quarter. Barclays PLC now owns 69,271 shares of the bank's stock worth $2,684,000 after buying an additional 59,048 shares in the last quarter. SG Americas Securities LLC increased its stake in German American Bancorp by 84.4% in the 4th quarter. SG Americas Securities LLC now owns 11,747 shares of the bank's stock worth $472,000 after acquiring an additional 5,377 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of German American Bancorp by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,481 shares of the bank's stock valued at $871,000 after acquiring an additional 3,391 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of German American Bancorp in the 4th quarter valued at about $362,000. Finally, CFC Planning Co LLC bought a new stake in shares of German American Bancorp during the 4th quarter valued at about $761,000. Hedge funds and other institutional investors own 46.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, German American Bancorp presently has a consensus rating of "Hold" and an average target price of $45.20.

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 that occurred on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total transaction of $99,468.25. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 135 shares of company stock valued at $5,246 over the last quarter. 6.16% of the stock is owned by corporate insiders.

German American Bancorp Price Performance

NASDAQ:GABC traded up $0.23 during midday trading on Tuesday, hitting $38.02. The company had a trading volume of 108,803 shares, compared to its average volume of 108,911. The company has a market capitalization of $1.43 billion, a PE ratio of 13.48 and a beta of 0.61. 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 52-week low of $31.06 and a 52-week high of $47.08. The stock's fifty day moving average price is $37.33 and its 200-day moving average price is $39.68.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued 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 return on equity of 12.04% and a net margin of 23.69%. The firm had revenue of $81.41 million during the quarter, compared to analyst estimates of $79.60 million. As a group, research analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors 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 yield of 3.05%. German American Bancorp's payout ratio is 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.