Deutsche Bank AG boosted its holdings in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 55.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,295 shares of the bank's stock after buying an additional 8,645 shares during the quarter. Deutsche Bank AG owned 0.08% of German American Bancorp worth $977,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of German American Bancorp during the 4th quarter valued at $35,000. Balyasny Asset Management L.P. bought a new position in shares of German American Bancorp during the 4th quarter worth about $363,000. Baird Financial Group Inc. increased its stake in German American Bancorp by 126.9% in the fourth quarter. Baird Financial Group Inc. now owns 36,501 shares of the bank's stock valued at $1,468,000 after acquiring an additional 20,413 shares during the period. Bank of America Corp DE increased its stake 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 during the period. Finally, Aptus Capital Advisors LLC increased its stake in German American Bancorp by 40.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 188,323 shares of the bank's stock valued at $7,574,000 after acquiring an additional 54,199 shares during the period. Institutional investors and hedge funds own 46.90% of the company's stock.
Insider Transactions at German American Bancorp
In other news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction 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 completion of the sale, the director now owns 11,673 shares of the company's stock, valued at $461,667.15. This represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 135 shares of company stock valued at $5,246 over the last quarter. Corporate insiders own 6.16% of the company's stock.
Wall Street Analyst Weigh In
Separately, Piper Sandler reduced their price target 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $45.20.
Check Out Our Latest Analysis on GABC
German American Bancorp Price Performance
Shares of GABC stock traded down $0.01 during trading hours on Friday, reaching $38.35. 131,721 shares of the company were exchanged, compared to its average volume of 108,832. German American Bancorp, Inc. has a fifty-two week low of $31.06 and a fifty-two week high of $47.08. The stock's fifty day moving average is $37.34 and its two-hundred day moving average is $39.77. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 13.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81.
German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.07. The business had revenue of $81.41 million during the quarter, compared to the consensus estimate of $79.60 million. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. Sell-side analysts forecast that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.
German American Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Saturday, May 10th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, May 9th. German American Bancorp's dividend payout ratio is 46.77%.
German American Bancorp Profile
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Free Report)
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.
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