German American Bancorp, Inc. $GABC Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in German American Bancorp by 4.2%, owning approximately 0.77% of the company, valued at $10.84 million.
• Analysts have raised the price target for German American Bancorp from $42.00 to $44.00, with a consensus rating of "Moderate Buy" and an average target of $46.00.
• The bank recently announced a quarterly dividend of $0.29, which represents an annualized dividend yield of 2.8% and a payout ratio of 44.11%.

Northern Trust Corp raised its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,112 shares of the bank's stock after purchasing an additional 11,719 shares during the quarter. Northern Trust Corp owned 0.77% of German American Bancorp worth $10,842,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GABC. Aptus Capital Advisors LLC boosted its stake in shares of German American Bancorp by 12.7% during the first quarter. Aptus Capital Advisors LLC now owns 212,287 shares of the bank's stock valued at $7,961,000 after purchasing an additional 23,964 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in German American Bancorp in the first quarter valued at approximately $19,336,000. Russell Investments Group Ltd. boosted its stake in German American Bancorp by 54.3% in the first quarter. Russell Investments Group Ltd. now owns 160,420 shares of the bank's stock valued at $6,016,000 after acquiring an additional 56,446 shares in the last quarter. SouthState Corp acquired a new stake in German American Bancorp in the first quarter valued at approximately $28,000. Finally, Nuveen LLC acquired a new stake in German American Bancorp in the first quarter valued at approximately $2,407,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of German American Bancorp from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $46.00.

Insider Transactions at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley bought 882 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average cost of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the transaction, the director directly owned 6,252 shares of the company's stock, valued at approximately $237,263.40. This trade represents a 16.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 3,580 shares of company stock worth $142,096 in the last three months. Insiders own 6.16% of the company's stock.

German American Bancorp Stock Performance

NASDAQ GABC traded down $0.09 on Wednesday, reaching $40.73. 86,249 shares of the company's stock traded hands, compared to its average volume of 111,164. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 15.49 and a beta of 0.65. The stock has a 50 day moving average price of $40.31 and a 200-day moving average price of $38.71. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The company had revenue of $91.16 million during 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 11.59%. Equities research analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Sunday, August 10th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 8th. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. German American Bancorp's payout ratio is currently 44.11%.

German American Bancorp Company 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.