German American Bancorp, Inc. $GABC Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in German American Bancorp by 18.3%, now holding 84,174 shares valued at approximately $3.16 million.
• Insider transactions included Director Diane B. Medley purchasing 882 shares, increasing her position by 16.42%, as insiders bought a total of 3,580 shares in the last three months.
• Analysts have set a new average target price of $46.00 for German American Bancorp, with ratings ranging from "Buy" to "Hold."

American Century Companies Inc. trimmed its stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 18.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 84,174 shares of the bank's stock after selling 18,903 shares during the period. American Century Companies Inc. owned about 0.22% of German American Bancorp worth $3,157,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GABC. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of German American Bancorp by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,185 shares of the bank's stock valued at $912,000 after purchasing an additional 2,704 shares in the last quarter. KBC Group NV acquired a new position in shares of German American Bancorp in the first quarter valued at approximately $55,000. Swiss National Bank grew its holdings in shares of German American Bancorp by 12.3% in the first quarter. Swiss National Bank now owns 65,550 shares of the bank's stock valued at $2,458,000 after purchasing an additional 7,200 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in shares of German American Bancorp in the first quarter valued at approximately $254,000. Finally, Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 8,081 shares in the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GABC. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler boosted 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.00.

Insider Buying and Selling

In other news, Director Diane B. Medley acquired 882 shares of the business's stock in a transaction on Monday, August 4th. The stock was bought at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the transaction, the director owned 6,252 shares in the company, valued at $237,263.40. This represents a 16.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 3,580 shares of company stock worth $142,096. 4.59% of the stock is currently owned by corporate insiders.

German American Bancorp Stock Up 0.7%

Shares of NASDAQ:GABC traded up $0.30 during trading on Thursday, hitting $41.54. 51,790 shares of the company were exchanged, compared to its average volume of 131,736. The stock has a market capitalization of $1.56 billion, a P/E ratio of 15.79 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. German American Bancorp, Inc. has a 12-month low of $32.75 and a 12-month high of $47.08. The firm's 50 day moving average price is $40.12 and its 200-day moving average price is $38.66.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The bank reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. The firm had revenue of $91.16 million during the quarter, compared to the consensus estimate of $91.93 million. On average, research analysts predict that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders 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 dividend payout ratio is presently 44.11%.

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.