Goldman Sachs Group Inc. Sells 50,054 Shares of German American Bancorp, Inc. $GABC

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 disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GABC. Bank of America Corp DE boosted its position in 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 buying an additional 8,081 shares in the last quarter. Deutsche Bank AG boosted its position in German American Bancorp by 55.2% in the fourth quarter. Deutsche Bank AG now owns 24,295 shares of the bank's stock valued at $977,000 after buying an additional 8,645 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in German American Bancorp by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank's stock valued at $652,000 after buying an additional 536 shares in the last quarter. Man Group plc acquired a new position in German American Bancorp in the fourth quarter valued at about $212,000. Finally, Point72 Asset Management L.P. acquired a new position in German American Bancorp in the fourth quarter valued at about $228,000. 46.90% of the stock is currently owned by institutional investors and hedge funds.

German American Bancorp Trading Up 0.9%

NASDAQ:GABC traded up $0.35 on Tuesday, reaching $40.67. The company's stock had a trading volume of 6,086 shares, compared to its average volume of 131,666. German American Bancorp, Inc. has a 1-year low of $32.75 and a 1-year 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. The firm has a market cap of $1.52 billion, a PE ratio of 15.46 and a beta of 0.65. The business's 50-day moving average price is $40.30 and its two-hundred day moving average price is $38.78.

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. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%.The firm had revenue of $91.16 million during the quarter, compared to analysts' expectations of $91.93 million. Equities research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Sunday, August 10th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. German American Bancorp's dividend payout ratio is currently 44.11%.

Insider Activity

In related news, Director Diane B. Medley acquired 882 shares of the stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $37.95 per share, with a total value 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. The trade was 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 worth $133,482 over the last ninety days. 4.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.