Jane Street Group LLC Sells 29,513 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Jane Street Group LLC trimmed its holdings in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 58.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,617 shares of the bank's stock after selling 29,513 shares during the quarter. Jane Street Group LLC owned 0.07% of German American Bancorp worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GABC. Barclays PLC boosted its position in shares of German American Bancorp by 577.6% in the third quarter. Barclays PLC now owns 69,271 shares of the bank's stock valued at $2,684,000 after acquiring an additional 59,048 shares during the period. SG Americas Securities LLC boosted its position in shares of German American Bancorp by 84.4% in the fourth quarter. SG Americas Securities LLC now owns 11,747 shares of the bank's stock valued at $472,000 after acquiring an additional 5,377 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of German American Bancorp by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,481 shares of the bank's stock valued at $871,000 after purchasing an additional 3,391 shares during the period. Kentucky Trust Co bought a new position in German American Bancorp in the fourth quarter worth $362,000. Finally, CFC Planning Co LLC bought a new position in German American Bancorp in the fourth quarter worth $761,000. 46.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jason M. Kelly sold 2,515 shares of the firm's stock in a transaction 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 sale, the director now directly owns 11,673 shares in the company, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 135 shares of company stock worth $5,246 over the last three months. 6.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GABC. Keefe, Bruyette & Woods raised their target price on German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. Piper Sandler reduced their target price on German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.20.

German American Bancorp Price Performance

German American Bancorp stock traded down $0.15 during mid-day trading on Thursday, hitting $38.36. 102,750 shares of the company were exchanged, compared to its average volume of 108,979. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $37.33 and a 200 day moving average of $39.87. German American Bancorp, Inc. has a 1-year low of $31.06 and a 1-year high of $47.08. The company has a market capitalization of $1.44 billion, a PE ratio of 13.60 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.07. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. The firm had revenue of $81.41 million during the quarter, compared to analyst estimates of $79.60 million. As a group, sell-side analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 3.02%. German American Bancorp's dividend payout ratio is currently 46.77%.

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.