De Lisle Partners LLP Takes $529,000 Position in German American Bancorp, Inc. (NASDAQ:GABC)

Key Points

• De Lisle Partners LLP has acquired 14,102 shares of German American Bancorp, valued at approximately $529,000, during the first quarter.
• German American Bancorp recently reported $0.79 earnings per share (EPS) for the quarter, exceeding analysts' expectations of $0.72 per share.
• Piper Sandler has downgraded the price target for German American Bancorp from $44.00 to $42.00, while maintaining a "neutral" rating on the stock.

De Lisle Partners LLP bought a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 14,102 shares of the bank's stock, valued at approximately $529,000.

A number of other hedge funds have also made changes to their positions in GABC. Mirae Asset Global Investments Co. Ltd. grew its holdings in German American Bancorp by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,185 shares of the bank's stock worth $912,000 after acquiring an additional 2,704 shares during the last quarter. KBC Group NV acquired a new stake in German American Bancorp during the 1st quarter worth approximately $55,000. Onyx Bridge Wealth Group LLC acquired a new stake in German American Bancorp during the 1st quarter worth approximately $254,000. Bank of America Corp DE raised its holdings in German American Bancorp by 28.0% during the 4th quarter. Bank of America Corp DE now owns 36,931 shares of the bank's stock worth $1,485,000 after buying an additional 8,081 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of German American Bancorp by 4.5% in the first quarter. Cerity Partners LLC now owns 27,423 shares of the bank's stock worth $1,028,000 after purchasing an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company's stock.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total value of $99,468.25. Following the transaction, the director directly owned 11,673 shares in the company, valued at $461,667.15. The trade was a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 2,785 shares of company stock valued at $112,078 in the last 90 days. 6.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday.

German American Bancorp Stock Down 2.1%

GABC traded down $0.81 during trading on Friday, reaching $37.61. 130,251 shares of the stock were exchanged, compared to its average volume of 135,276. The stock has a market cap of $1.41 billion, a P/E ratio of 14.30 and a beta of 0.59. German American Bancorp, Inc. has a twelve month low of $32.75 and a twelve month high of $47.08. The stock's 50 day moving average price is $39.09 and its two-hundred day moving average price is $38.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86.

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 business had revenue of $91.16 million for the quarter, compared to the consensus estimate of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 12.40%. Equities analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, August 8th. German American Bancorp's payout ratio is currently 44.11%.

German American Bancorp 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.