German American Bancorp, Inc. Declares Quarterly Dividend of $0.29 (NASDAQ:GABC)

Key Points

• German American Bancorp, Inc. has declared a quarterly dividend of $0.29 per share, with a scheduled payment date of August 20th for shareholders of record as of August 10th.
• The company reported earnings of $0.86 per share for the last quarter, surpassing the expected $0.83, and it maintains a dividend payout ratio of 32.0% which is comfortably supported by earnings.
• In recent trading, shares of German American Bancorp reached $40.20, with a market capitalization of $1.51 billion, and institutional investors currently hold 46.90% of the company's stock.

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) announced a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Shareholders of record on Sunday, August 10th will be paid a dividend of 0.29 per share by the bank on Wednesday, August 20th. This represents a $1.16 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, August 8th.

German American Bancorp has a dividend payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Analysts expect German American Bancorp to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 31.7%.

German American Bancorp Stock Performance

Shares of NASDAQ GABC traded up $0.03 during midday trading on Tuesday, reaching $40.20. The company had a trading volume of 113,805 shares, compared to its average volume of 135,847. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The business's 50-day simple moving average is $39.06 and its 200 day simple moving average is $38.70. German American Bancorp has a 1 year low of $32.75 and a 1 year high of $47.08. The stock has a market cap of $1.51 billion, a P/E ratio of 16.21 and a beta of 0.59.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. German American Bancorp had a net margin of 19.78% and a return on equity of 11.53%. The firm had revenue of $91.16 million during the quarter, compared to analysts' expectations of $91.93 million. On average, analysts forecast that German American Bancorp will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total value of $99,468.25. Following the transaction, the director directly owned 11,673 shares in the company, valued at $461,667.15. The trade was a 17.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 2,785 shares of company stock valued at $112,078. Insiders own 4.59% of the company's stock.

Hedge Funds Weigh In On German American Bancorp

Several large investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of German American Bancorp by 9.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,370 shares of the bank's stock worth $2,076,000 after acquiring an additional 4,907 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of German American Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,932 shares of the bank's stock worth $635,000 after acquiring an additional 711 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of German American Bancorp by 161.6% in the 1st quarter. AQR Capital Management LLC now owns 50,971 shares of the bank's stock worth $1,911,000 after acquiring an additional 31,486 shares during the last quarter. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned 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 a consensus price target of $45.20.

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.

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