Wealthquest Corp Acquires Shares of 19,597 German American Bancorp, Inc. (NASDAQ:GABC)

Wealthquest Corp purchased a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 19,597 shares of the bank's stock, valued at approximately $735,000. Wealthquest Corp owned about 0.05% of German American Bancorp as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. MGO One Seven LLC purchased a new stake in shares of German American Bancorp during the first quarter worth about $6,988,000. De Lisle Partners LLP purchased a new position in shares of German American Bancorp during the 1st quarter worth $529,000. Mackenzie Financial Corp raised its position in shares of German American Bancorp by 26.9% during the 1st quarter. Mackenzie Financial Corp now owns 10,729 shares of the bank's stock valued at $402,000 after purchasing an additional 2,275 shares during the period. John G Ullman & Associates Inc. bought a new stake in shares of German American Bancorp during the 1st quarter valued at $307,000. Finally, Royce & Associates LP increased its holdings in German American Bancorp by 35.5% in the 1st quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock valued at $16,116,000 after acquiring an additional 112,539 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company's stock.

Insider Activity at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the sale, the director owned 11,673 shares in the company, valued at approximately $461,667.15. This represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 2,785 shares of company stock valued at $112,078 in the last three months. Corporate insiders own 6.16% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GABC shares. Piper Sandler boosted their target price on shares of German American Bancorp from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday. Wall Street Zen raised shares of German American Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $46.00.

German American Bancorp Price Performance

NASDAQ GABC traded up $0.24 during trading hours on Monday, reaching $37.85. The company's stock had a trading volume of 17,193 shares, compared to its average volume of 134,756. The stock has a market cap of $1.42 billion, a PE ratio of 14.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50-day moving average is $39.08 and its two-hundred day moving average is $38.68. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. German American Bancorp had a return on equity of 12.40% and a net margin of 20.84%. The company had revenue of $91.16 million for the quarter, compared to analysts' expectations of $91.93 million. Analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Sunday, August 10th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 8th. German American Bancorp's dividend payout ratio is presently 44.11%.

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.