Russell Investments Group Ltd. Has $6.02 Million Position in German American Bancorp, Inc. $GABC

Key Points

• Russell Investments Group Ltd. increased its stake in German American Bancorp by 54.3% during the first quarter, owning approximately $6.02 million worth of stock by the end of the period.
• Several analysts have recently upgraded the stock rating of German American Bancorp to "hold," with a consensus price target of $46.00.
• The bank reported earnings of $0.86 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.29 per share.

Russell Investments Group Ltd. grew its holdings in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 54.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,420 shares of the bank's stock after acquiring an additional 56,446 shares during the quarter. Russell Investments Group Ltd. owned 0.43% of German American Bancorp worth $6,016,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. SouthState Corp bought a new stake in shares of German American Bancorp in the first quarter worth about $28,000. Nuveen LLC acquired a new stake in German American Bancorp in the 1st quarter valued at approximately $2,407,000. Swiss National Bank raised its position in German American Bancorp by 12.3% in the 1st quarter. Swiss National Bank now owns 65,550 shares of the bank's stock valued at $2,458,000 after buying an additional 7,200 shares during 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 valued at $41,594,000 after buying an additional 109,789 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in German American Bancorp by 20.4% in the 1st quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock valued at $79,004,000 after buying an additional 357,360 shares during the last quarter. 46.90% of the stock is currently owned by institutional investors.

Insider Activity

In other German American Bancorp news, Director Diane B. Medley acquired 882 shares of the business's stock in a transaction dated Monday, August 4th. The stock was bought at an average cost of $37.95 per share, with a total value of $33,471.90. Following the completion of the transaction, the director directly owned 6,252 shares in the company, valued at approximately $237,263.40. This represents a 16.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased 3,580 shares of company stock valued at $142,096 over the last ninety days. Company insiders own 6.16% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GABC shares. Wall Street Zen raised German American Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler lifted their target price on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.00.

German American Bancorp Stock Up 4.7%

GABC stock traded up $1.89 during mid-day trading on Friday, reaching $41.79. The company had a trading volume of 170,164 shares, compared to its average volume of 108,424. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $39.43 and a two-hundred day simple moving average of $38.59. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.89 and a beta of 0.62. German American Bancorp, Inc. has a 52 week low of $32.75 and a 52 week high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The bank reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The firm had revenue of $91.16 million during the quarter, compared to the consensus estimate of $91.93 million. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%. As a group, equities analysts predict that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Sunday, August 10th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis 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 (DPR) is presently 44.11%.

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.