German American Bancorp, Inc. (NASDAQ:GABC) Sees Large Increase in Short Interest

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,070,000 shares, a growth of 19.2% from the March 15th total of 897,400 shares. Approximately 3.8% of the company's stock are short sold. Based on an average trading volume of 130,600 shares, the days-to-cover ratio is presently 8.2 days.

German American Bancorp Stock Performance

NASDAQ:GABC traded down $0.48 during mid-day trading on Friday, reaching $36.52. 70,537 shares of the company's stock were exchanged, compared to its average volume of 108,563. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $1.37 billion, a PE ratio of 12.95 and a beta of 0.61. German American Bancorp has a one year low of $31.06 and a one year high of $47.08. The business's fifty day simple moving average is $37.47 and its two-hundred day simple moving average is $40.27.

German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. Analysts anticipate that German American Bancorp will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.29 dividend. The ex-dividend date was Monday, February 10th. This is a boost from German American Bancorp's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.18%. German American Bancorp's payout ratio is currently 41.13%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $46.40.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley acquired 1,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $39.21 per share, with a total value of $39,210.00. Following the completion of the transaction, the director now directly owns 5,370 shares in the company, valued at approximately $210,557.70. This represents a 22.88 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 1,090 shares of company stock valued at $42,697. 6.16% of the stock is owned by corporate insiders.

Institutional Trading of German American Bancorp

Several large investors have recently modified their holdings of GABC. Principal Financial Group Inc. bought a new stake in German American Bancorp during the third quarter worth about $597,000. Barclays PLC lifted its holdings in shares of German American Bancorp by 577.6% during the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank's stock worth $2,684,000 after acquiring an additional 59,048 shares during the period. State Street Corp boosted its position in shares of German American Bancorp by 6.9% during the 3rd quarter. State Street Corp now owns 772,675 shares of the bank's stock worth $29,941,000 after acquiring an additional 50,206 shares in the last quarter. JPMorgan Chase & Co. increased its stake in German American Bancorp by 154.6% in the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank's stock valued at $2,358,000 after acquiring an additional 36,954 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in German American Bancorp during the fourth quarter valued at approximately $489,000. 46.90% of the stock is owned by institutional investors and hedge funds.

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.