Two Sigma Investments LP Sells 7,402 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Two Sigma Investments LP reduced its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 15.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,010 shares of the bank's stock after selling 7,402 shares during the quarter. Two Sigma Investments LP owned approximately 0.14% of German American Bancorp worth $1,649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP grew its stake in shares of German American Bancorp by 15.2% in the fourth quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock valued at $119,000 after buying an additional 389 shares in the last quarter. Forvis Mazars Wealth Advisors LLC lifted its position in German American Bancorp by 4.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank's stock worth $417,000 after purchasing an additional 405 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in German American Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank's stock worth $652,000 after purchasing an additional 536 shares during the period. Tower Research Capital LLC TRC raised its stake in German American Bancorp by 399.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock worth $39,000 after acquiring an additional 775 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in German American Bancorp by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank's stock worth $37,000 after acquiring an additional 813 shares in the last quarter. 46.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.20.

Insider Buying and Selling at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the completion of the sale, the director now owns 11,673 shares in the company, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased 135 shares of company stock valued at $5,246 in the last quarter. 6.16% of the stock is currently owned by corporate insiders.

German American Bancorp Stock Down 0.9%

NASDAQ:GABC traded down $0.34 during trading hours on Wednesday, reaching $37.68. The company had a trading volume of 107,769 shares, compared to its average volume of 108,975. The business's 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $39.66. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 13.36 and a beta of 0.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a twelve month low of $31.06 and a twelve month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its earnings results on Monday, April 28th. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $81.41 million for the quarter, compared to analysts' expectations of $79.60 million. On average, equities analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, May 9th. German American Bancorp's payout ratio is presently 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.