German American Bancorp, Inc. (NASDAQ:GABC) Shares Purchased by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in German American Bancorp by 35.5%, acquiring 112,539 additional shares, bringing its total to approximately 429,760 shares worth $16.1 million.
• The bank reported earnings of $0.79 per share, surpassing estimates by $0.07, and posting a revenue of $81.41 million against expectations of $79.60 million.
• German American Bancorp declared a quarterly dividend of $0.29 per share, with a yield of 2.91% and a dividend payout ratio of 46.77%.

Royce & Associates LP boosted its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 35.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 429,760 shares of the bank's stock after buying an additional 112,539 shares during the quarter. Royce & Associates LP owned 1.15% of German American Bancorp worth $16,116,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Strategic Value Bank Partners LLC acquired a new stake in shares of German American Bancorp during the 1st quarter worth approximately $6,145,000. L.M. Kohn & Company increased its holdings in shares of German American Bancorp by 34.7% during the 1st quarter. L.M. Kohn & Company now owns 490,458 shares of the bank's stock valued at $18,392,000 after purchasing an additional 126,236 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of German American Bancorp by 437.1% during the 4th quarter. First Trust Advisors LP now owns 96,438 shares of the bank's stock valued at $3,879,000 after purchasing an additional 78,482 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of German American Bancorp by 40.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 188,323 shares of the bank's stock valued at $7,574,000 after purchasing an additional 54,199 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of German American Bancorp by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank's stock valued at $70,336,000 after purchasing an additional 40,642 shares in the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at German American Bancorp

In related news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total value of $99,468.25. Following the sale, the director owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 2,785 shares of company stock valued at $112,078. 4.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price 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 issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.20.

German American Bancorp Price Performance

German American Bancorp stock traded up $0.09 during trading on Monday, reaching $40.01. The company had a trading volume of 24,690 shares, compared to its average volume of 135,460. The firm's 50-day simple moving average is $39.05 and its 200 day simple moving average is $38.68. German American Bancorp, Inc. has a 1-year low of $32.75 and a 1-year high of $47.08. The firm has a market capitalization of $1.50 billion, a PE ratio of 16.13 and a beta of 0.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.07. German American Bancorp had a net margin of 19.78% and a return on equity of 11.53%. The firm had revenue of $81.41 million for the quarter, compared to analysts' expectations of $79.60 million. As a group, equities research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp 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.