German American Bancorp, Inc. $GABC Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in German American Bancorp by 38.1%, now holding 81,378 shares worth approximately $3.05 million.
• German American Bancorp reported a quarterly EPS of $0.86, exceeding analysts' expectations, but revenue fell short of projections at $91.16 million.
• The company recently declared a dividend of $0.29 per share, translating to an annual yield of 2.8%.

Goldman Sachs Group Inc. cut its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 38.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,378 shares of the bank's stock after selling 50,054 shares during the period. Goldman Sachs Group Inc. owned 0.22% of German American Bancorp worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GABC. Silver Oak Securities Incorporated purchased a new stake in shares of German American Bancorp in the 1st quarter valued at approximately $28,000. SouthState Corp acquired a new position in shares of German American Bancorp in the 1st quarter valued at $28,000. KBC Group NV acquired a new position in shares of German American Bancorp in the 1st quarter valued at $55,000. GAMMA Investing LLC boosted its holdings in shares of German American Bancorp by 2,933.8% in the 1st quarter. GAMMA Investing LLC now owns 2,063 shares of the bank's stock valued at $77,000 after buying an additional 1,995 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of German American Bancorp by 10.8% in the 1st quarter. Quantbot Technologies LP now owns 3,272 shares of the bank's stock valued at $123,000 after buying an additional 320 shares in the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

German American Bancorp Stock Down 1.6%

Shares of GABC traded down $0.66 during mid-day trading on Friday, reaching $40.80. 260,908 shares of the stock traded hands, compared to its average volume of 116,295. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 15.51 and a beta of 0.65. The stock has a fifty day simple moving average of $40.31 and a 200 day simple moving average of $38.77. German American Bancorp, Inc. has a 12-month low of $32.75 and a 12-month high of $47.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. Sell-side analysts expect 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 Wednesday, August 20th. Investors of record on Sunday, August 10th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, August 8th. German American Bancorp's payout ratio is 44.11%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. 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 increased their price target on shares of German American Bancorp from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. 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 price target of $46.00.

Insider Activity

In related news, Director Diane B. Medley purchased 882 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the purchase, the director owned 6,252 shares in the company, valued at approximately $237,263.40. This represents a 16.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 3,352 shares of company stock valued at $133,482 in the last three months. 6.16% of the stock is currently owned by insiders.

German American Bancorp 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.