ProShare Advisors LLC Cuts Position in German American Bancorp, Inc. (NASDAQ:GABC)

ProShare Advisors LLC trimmed its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,755 shares of the bank's stock after selling 7,725 shares during the period. ProShare Advisors LLC owned approximately 0.60% of German American Bancorp worth $7,190,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GABC. Franklin Resources Inc. increased its position in German American Bancorp by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank's stock worth $70,336,000 after purchasing an additional 40,642 shares during the period. Dimensional Fund Advisors LP lifted its holdings in German American Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,140,813 shares of the bank's stock valued at $45,884,000 after acquiring an additional 8,659 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of German American Bancorp by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank's stock worth $40,195,000 after purchasing an additional 44,845 shares in the last quarter. Royce & Associates LP grew its stake in shares of German American Bancorp by 138.2% during the 4th quarter. Royce & Associates LP now owns 317,221 shares of the bank's stock worth $12,759,000 after purchasing an additional 184,065 shares during the period. Finally, Northern Trust Corp grew its position in German American Bancorp by 5.0% during the fourth quarter. Northern Trust Corp now owns 277,393 shares of the bank's stock worth $11,157,000 after buying an additional 13,330 shares during the period. 46.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GABC has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Piper Sandler decreased their price objective 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 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 MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $45.20.

German American Bancorp Trading Down 0.1%

Shares of German American Bancorp stock traded down $0.04 during trading hours on Friday, reaching $37.97. 63,817 shares of the company's stock were exchanged, compared to its average volume of 108,582. German American Bancorp, Inc. has a 52-week low of $31.06 and a 52-week high of $47.08. The company has a fifty day moving average of $37.36 and a 200-day moving average of $40.09. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.46 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating 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. Sell-side analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. German American Bancorp's dividend payout ratio is presently 46.77%.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction that occurred 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 owns 11,673 shares of the company's stock, valued at $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane B. Medley acquired 1,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the acquisition, the director now owns 5,370 shares in the company, valued at approximately $210,557.70. The trade was a 22.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,135 shares of company stock worth $44,456. 6.16% of the stock is owned by company insiders.

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.