Russell Investments Group Ltd. Acquires 56,446 Shares of 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. raised its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 54.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,420 shares of the bank's stock after purchasing an additional 56,446 shares during the quarter. Russell Investments Group Ltd. owned 0.43% of German American Bancorp worth $6,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GABC. Vanguard Group Inc. increased its stake in German American Bancorp by 20.4% during the 1st quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock valued at $79,004,000 after purchasing an additional 357,360 shares in the last quarter. MGO One Seven LLC bought a new stake in German American Bancorp during the 1st quarter valued at $6,988,000. Strategic Value Bank Partners LLC bought a new stake in German American Bancorp during the 1st quarter valued at $6,145,000. L.M. Kohn & Company increased its stake in 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. Finally, Royce & Associates LP increased its stake in German American Bancorp by 35.5% during the 1st quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock valued at $16,116,000 after purchasing an additional 112,539 shares in the last quarter. Institutional investors own 46.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GABC shares. Piper Sandler boosted their price target on shares of German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, German American Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $46.00.

German American Bancorp Stock Performance

GABC traded up $0.59 during trading on Tuesday, hitting $41.94. 138,934 shares of the company traded hands, compared to its average volume of 109,191. The firm has a market cap of $1.57 billion, a P/E ratio of 15.95 and a beta of 0.62. The stock's fifty day moving average is $39.62 and its 200 day moving average is $38.60. 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, Inc. has a one year low of $32.75 and a one year 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 the consensus estimate of $0.83 by $0.03. The company had revenue of $91.16 million during the quarter, compared to analyst estimates of $91.93 million. German American Bancorp had a net margin of 20.84% and a return on equity of 11.59%. As a group, equities analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, Director Diane B. Medley purchased 882 shares of German American Bancorp stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the transaction, the director owned 6,252 shares in the company, valued at $237,263.40. This represents a 16.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 3,580 shares of company stock worth $142,096 in the last three months. 4.59% of the stock is currently owned by corporate 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.