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.
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