Nuveen LLC Takes Position in German American Bancorp, Inc. $GABC

Key Points

• Nuveen LLC acquired a new stake in German American Bancorp, purchasing 64,178 shares valued at approximately $2.4 million, which represents 0.17% of the bank's outstanding shares.
• The company's quarterly earnings were reported at $0.86 per share, exceeding analysts' expectations of $0.83, although revenue fell short of estimates at $91.16 million.
• German American Bancorp recently announced a quarterly dividend of $0.29, reflecting an annualized yield of 2.8%, with a payout ratio of 44.11%.

Nuveen LLC purchased a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 64,178 shares of the bank's stock, valued at approximately $2,407,000. Nuveen LLC owned approximately 0.17% of German American Bancorp at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swiss National Bank increased its position in shares of German American Bancorp by 12.3% during the first quarter. Swiss National Bank now owns 65,550 shares of the bank's stock valued at $2,458,000 after acquiring an additional 7,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in German American Bancorp by 11.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,170 shares of the bank's stock worth $41,594,000 after buying an additional 109,789 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of German American Bancorp by 20.4% in the first quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock worth $79,004,000 after acquiring an additional 357,360 shares during the period. PNC Financial Services Group Inc. increased its position in German American Bancorp by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 24,171 shares of the bank's stock valued at $906,000 after acquiring an additional 546 shares during the last quarter. Finally, Wealthquest Corp bought a new position in German American Bancorp in the first quarter valued at about $735,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other German American Bancorp news, Director Diane B. Medley acquired 882 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was purchased at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the acquisition, the director owned 6,252 shares in the company, valued at approximately $237,263.40. This trade represents a 16.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 3,580 shares of company stock worth $142,096 over the last 90 days. Corporate insiders own 4.59% of the company's stock.

German American Bancorp Stock Down 0.1%

Shares of GABC stock traded down $0.06 on Wednesday, hitting $41.20. The stock had a trading volume of 47,931 shares, compared to its average volume of 131,778. German American Bancorp, Inc. has a one year low of $32.75 and a one year high of $47.08. The business has a 50 day moving average price of $40.06 and a 200 day moving average price of $38.64. The company has a market cap of $1.54 billion, a PE ratio of 15.67 and a beta of 0.65. 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 earnings results on Monday, July 28th. The bank reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The business had revenue of $91.16 million for the quarter, compared to the consensus estimate of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. Research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 8th. German American Bancorp's dividend payout ratio is presently 44.11%.

Wall Street Analyst Weigh In

GABC has been the subject of several recent research reports. Piper Sandler boosted their target price 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 raised shares of German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.00.

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.