Everhart Financial Group Inc. Takes Position in German American Bancorp, Inc. (NASDAQ:GABC)

Everhart Financial Group Inc. purchased a new position 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 SEC. The firm purchased 11,914 shares of the bank's stock, valued at approximately $447,000.

Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in shares of German American Bancorp by 15.2% during the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock valued at $119,000 after buying an additional 389 shares during the last quarter. Forvis Mazars Wealth Advisors LLC increased its position in German American Bancorp by 4.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank's stock worth $417,000 after buying an additional 405 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in German American Bancorp by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,291 shares of the bank's stock worth $1,218,000 after buying an additional 408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of German American Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank's stock valued at $652,000 after purchasing an additional 536 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of German American Bancorp by 399.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock valued at $39,000 after purchasing an additional 775 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.

German American Bancorp Stock Performance

Shares of GABC traded down $1.02 on Friday, reaching $37.37. 118,326 shares of the stock traded hands, compared to its average volume of 110,093. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 13.25 and a beta of 0.59. 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, Inc. has a 12 month low of $31.96 and a 12 month high of $47.08. The stock's 50-day moving average price is $37.63 and its 200-day moving average price is $39.26.

German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.07. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. The firm had revenue of $81.41 million for the quarter, compared to analysts' expectations of $79.60 million. Equities analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, May 9th. German American Bancorp's dividend payout ratio (DPR) is 46.77%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on 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 analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $45.20.

Insiders Place Their Bets

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the business's stock in a transaction 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 transaction, the director now owns 11,673 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Over the last quarter, insiders have acquired 113 shares of company stock valued at $4,389. 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.