Onyx Bridge Wealth Group LLC Buys Shares of 6,781 German American Bancorp, Inc. (NASDAQ:GABC)

Onyx Bridge Wealth Group LLC bought a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,781 shares of the bank's stock, valued at approximately $254,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated bought a new stake in German American Bancorp during the first quarter valued at $28,000. Cubist Systematic Strategies LLC acquired a new position in shares of German American Bancorp during the fourth quarter valued at $35,000. Sterling Capital Management LLC boosted its holdings in shares of German American Bancorp by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank's stock valued at $37,000 after acquiring an additional 813 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of German American Bancorp by 399.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock valued at $39,000 after acquiring an additional 775 shares during the period. Finally, KBC Group NV acquired a new position in shares of German American Bancorp during the first quarter valued at $55,000. Institutional investors own 46.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Jason M. Kelly sold 2,515 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total value of $99,468.25. Following the completion of the sale, the director owned 11,673 shares of the company's stock, valued at $461,667.15. This represents a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 341 shares of company stock valued at $13,002 over the last three months. Corporate insiders own 6.16% of the company's stock.

German American Bancorp Stock Performance

GABC stock opened at $40.70 on Friday. The company has a market capitalization of $1.53 billion, a P/E ratio of 16.41 and a beta of 0.59. The company has a 50-day simple moving average of $38.49 and a 200 day simple moving average of $38.64. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. The business had revenue of $81.41 million during the quarter, compared to the consensus estimate of $79.60 million. German American Bancorp had a net margin of 19.78% and a return on equity of 11.53%. Sell-side analysts predict 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 Tuesday, May 20th. Investors of record on Saturday, May 10th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, May 9th. German American Bancorp's 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.

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