German American Bancorp, Inc. $GABC Stock Holdings Lowered by Comerica Bank

Key Points

• Comerica Bank significantly reduced its holdings in German American Bancorp by 54.2%, ending the first quarter with 13,337 shares worth $500,000.
• The stock price of German American Bancorp recently opened at $41.29, with a year low of $32.75 and a high of $47.08.
• The company announced a quarterly dividend of $0.29, representing an annualized dividend yield of 2.8%, with a payout ratio of 44.11%.

Comerica Bank reduced its position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 54.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,337 shares of the bank's stock after selling 15,761 shares during the period. Comerica Bank's holdings in German American Bancorp were worth $500,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of German American Bancorp by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,185 shares of the bank's stock worth $912,000 after purchasing an additional 2,704 shares in the last quarter. KBC Group NV acquired a new stake in German American Bancorp in the first quarter valued at $55,000. Swiss National Bank raised its holdings in German American Bancorp by 12.3% in the first quarter. Swiss National Bank now owns 65,550 shares of the bank's stock valued at $2,458,000 after acquiring an additional 7,200 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in German American Bancorp in the first quarter valued at $254,000. Finally, Bank of America Corp DE raised its holdings in German American Bancorp by 28.0% in the fourth quarter. Bank of America Corp DE now owns 36,931 shares of the bank's stock valued at $1,485,000 after acquiring an additional 8,081 shares in the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

German American Bancorp Stock Performance

Shares of NASDAQ:GABC traded down $0.07 on Friday, reaching $40.91. 91,299 shares of the company's stock were exchanged, compared to its average volume of 110,571. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 15.56 and a beta of 0.65. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08. The business's 50-day moving average is $40.32 and its two-hundred day moving average is $38.73. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. The company had revenue of $91.16 million for the quarter, compared to analysts' expectations of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. As a group, equities research analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 8th. German American Bancorp's dividend payout ratio is 44.11%.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley purchased 882 shares of the stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the transaction, the director owned 6,252 shares of the company's stock, valued at approximately $237,263.40. The trade was a 16.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired 3,580 shares of company stock worth $142,096 over the last 90 days. 6.16% of the stock is currently owned by corporate insiders.

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.