Champlain Investment Partners LLC Cuts Stake in German American Bancorp, Inc. $GABC

Key Points

• Champlain Investment Partners LLC has sold 24,267 shares of German American Bancorp, reducing its stake by 2% to 1,169,355 shares, valued at approximately $43.85 million.
• The bank's stock has received a range of ratings from analysts, with Piper Sandler increasing its price target from $42 to $44, reflecting a consensus rating of "Moderate Buy" and a price target of $46.
• German American Bancorp recently declared a quarterly dividend of $0.29, translating to an annual yield of 2.8% and a dividend payout ratio of 44.11%.

Champlain Investment Partners LLC reduced its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,169,355 shares of the bank's stock after selling 24,267 shares during the period. Champlain Investment Partners LLC owned 3.12% of German American Bancorp worth $43,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of German American Bancorp by 20.4% in the 1st 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 during the period. Dimensional Fund Advisors LP boosted its position in shares of German American Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,140,813 shares of the bank's stock valued at $45,884,000 after acquiring an additional 8,659 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of German American Bancorp by 11.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,170 shares of the bank's stock worth $41,594,000 after purchasing an additional 109,789 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of German American Bancorp in the 1st quarter valued at $19,336,000. Finally, L.M. Kohn & Company boosted its holdings in shares of German American Bancorp by 34.7% in the 1st 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. Institutional investors and hedge funds own 46.90% of the company's stock.

Insider Transactions at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 882 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average cost of $37.95 per share, with a total value of $33,471.90. Following the transaction, the director directly owned 6,252 shares in the company, valued at approximately $237,263.40. The trade was a 16.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 3,580 shares of company stock worth $142,096. Company insiders own 4.59% of the company's stock.

Analysts Set New Price Targets

GABC has been the subject of a number of research reports. Piper Sandler increased their price target on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

German American Bancorp Price Performance

GABC stock traded down $0.18 during mid-day trading on Monday, hitting $41.78. 81,615 shares of the stock were exchanged, compared to its average volume of 108,119. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.89 and a beta of 0.65. The business has a fifty day moving average price of $39.93 and a 200 day moving average price of $38.62. 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 12 month low of $32.75 and a 12 month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The bank reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm 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, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Announces Dividend

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

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.