John G Ullman & Associates Inc. Purchases New Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Key Points

• John G Ullman & Associates Inc. acquired 8,190 shares of German American Bancorp, valued at approximately $307,000, during the first quarter.
• German American Bancorp reported earnings of $0.79 per share in its latest quarter, exceeding analysts' expectations of $0.72.
• The company declared a quarterly dividend of $0.29 per share, with a yield of 2.91%, as part of its commitment to shareholder returns.

John G Ullman & Associates Inc. purchased a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,190 shares of the bank's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royce & Associates LP grew its stake in shares of German American Bancorp by 35.5% in the 1st quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock worth $16,116,000 after buying an additional 112,539 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of German American Bancorp by 51.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 8,200 shares of the bank's stock worth $308,000 after buying an additional 2,800 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of German American Bancorp by 31.0% in the 1st quarter. Allianz Asset Management GmbH now owns 14,800 shares of the bank's stock worth $555,000 after buying an additional 3,500 shares during the last quarter. Strategic Value Bank Partners LLC purchased a new stake in shares of German American Bancorp in the 1st quarter worth approximately $6,145,000. Finally, Arizona State Retirement System boosted its stake in German American Bancorp by 12.5% during the 1st quarter. Arizona State Retirement System now owns 9,664 shares of the bank's stock valued at $362,000 after purchasing an additional 1,076 shares during the last quarter. Institutional investors own 46.90% of the company's stock.

German American Bancorp Trading Up 1.2%

Shares of German American Bancorp stock traded up $0.50 on Tuesday, hitting $40.67. 21,454 shares of the company traded hands, compared to its average volume of 135,160. The stock's 50 day moving average price is $39.06 and its 200-day moving average price is $38.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. German American Bancorp, Inc. has a 52 week low of $32.75 and a 52 week high of $47.08. The company has a market cap of $1.52 billion, a PE ratio of 16.40 and a beta of 0.59.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The bank reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm 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 19.78% and a return on equity of 11.53%. Equities research analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current year.

Insider Transactions at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total transaction of $99,468.25. Following the sale, the director directly owned 11,673 shares of the company's stock, valued at $461,667.15. The trade was a 17.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 2,785 shares of company stock valued at $112,078 over the last 90 days. 4.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on German American Bancorp from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. One 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's stock. According to data from MarketBeat, German American Bancorp has an average rating of "Hold" and an average price target of $45.20.

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.