German American Bancorp, Inc. (NASDAQ:GABC) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,516 shares of the bank's stock after selling 7,193 shares during the period. Millennium Management LLC owned 0.05% of German American Bancorp worth $624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GABC. Cubist Systematic Strategies LLC acquired a new stake in shares of German American Bancorp in the fourth quarter worth $35,000. Sterling Capital Management LLC increased its stake in shares of German American Bancorp by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank's stock worth $37,000 after acquiring an additional 813 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of German American Bancorp by 399.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock worth $39,000 after acquiring an additional 775 shares during the period. Quantbot Technologies LP increased its stake in shares of German American Bancorp by 15.2% in the fourth quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock worth $119,000 after acquiring an additional 389 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of German American Bancorp in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 46.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $45.20.

German American Bancorp Trading Down 1.0%

Shares of GABC stock traded down $0.37 during trading hours on Wednesday, hitting $38.55. The company had a trading volume of 105,096 shares, compared to its average volume of 109,835. The company's fifty day moving average is $37.50 and its 200 day moving average is $39.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. German American Bancorp, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $47.08. The stock has a market capitalization of $1.44 billion, a PE ratio of 13.67 and a beta of 0.59.

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

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Saturday, May 10th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, May 9th. German American Bancorp's dividend payout ratio (DPR) is 46.77%.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the firm'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 transaction, the director now directly owns 11,673 shares of the company's stock, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 135 shares of company stock valued at $5,246 in the last ninety days. Insiders own 6.16% of the company's stock.

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.