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Everhart Financial Group Inc. Purchases New Shares in German American Bancorp, Inc. (NASDAQ:GABC)

German American Bancorp logo with Finance background

Everhart Financial Group Inc. purchased a new stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,914 shares of the bank's stock, valued at approximately $447,000.

A number of other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its stake 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 valued at $1,485,000 after purchasing an additional 8,081 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of German American Bancorp by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,463 shares of the bank's stock worth $2,030,000 after buying an additional 6,817 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of German American Bancorp by 55.2% during the fourth quarter. Deutsche Bank AG now owns 24,295 shares of the bank's stock worth $977,000 after buying an additional 8,645 shares during the last quarter. Northern Trust Corp boosted its position in shares of German American Bancorp by 5.0% in the fourth quarter. Northern Trust Corp now owns 277,393 shares of the bank's stock valued at $11,157,000 after acquiring an additional 13,330 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of German American Bancorp in the fourth quarter worth $489,000. Institutional investors own 46.90% of the company's stock.

German American Bancorp Stock Performance

Shares of GABC stock traded down $0.09 during mid-day trading on Tuesday, reaching $36.86. The stock had a trading volume of 193,962 shares, compared to its average volume of 110,833. The firm's 50 day simple moving average is $37.69 and its 200 day simple moving average is $39.15. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21. German American Bancorp, Inc. has a one year low of $32.56 and a one year high of $47.08. The firm has a market cap of $1.38 billion, a PE ratio of 14.86 and a beta of 0.59.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.07. German American Bancorp had a return on equity of 11.53% and a net margin of 19.78%. The business had revenue of $81.41 million during the quarter, compared to analyst estimates of $79.60 million. On average, analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Saturday, May 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 3.15%. The ex-dividend date was Friday, May 9th. German American Bancorp's payout ratio is 46.77%.

Insider Transactions at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total value of $99,468.25. Following the completion of the transaction, the director now directly owns 11,673 shares of the company's stock, valued at approximately $461,667.15. This represents a 17.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders acquired 341 shares of company stock valued at $13,002. Company insiders own 4.59% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler cut their target price on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One investment 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $45.20.

Check Out Our Latest Analysis on German American Bancorp

German American Bancorp Company Profile

(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.

See Also

Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

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