German American Bancorp (NASDAQ:GABC) Releases Quarterly Earnings Results

Key Points

• German American Bancorp reported a quarterly earnings per share (EPS) of $0.86, exceeding the consensus estimate of $0.83 by $0.03.
• The stock has seen a moderate price increase, trading at $40.17, with a market capitalization of $1.51 billion and a PE ratio of 16.20.
• Several institutional investors have increased their stakes in German American Bancorp, with notable purchases from AQR Capital Management, which raised its position by 161.6%.

German American Bancorp (NASDAQ:GABC - Get Free Report) posted its quarterly earnings data on Monday. The bank reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.03, Zacks reports. 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 during the quarter, compared to analyst estimates of $91.93 million.

German American Bancorp Stock Performance

German American Bancorp stock traded down $0.76 during trading on Friday, reaching $37.66. The company had a trading volume of 24,590 shares, compared to its average volume of 134,853. German American Bancorp has a 52 week low of $32.75 and a 52 week high of $47.08. The firm's 50-day simple moving average is $39.09 and its 200 day simple moving average is $38.71. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 14.32 and a beta of 0.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

German American Bancorp Announces Dividend

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

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday.

Insider Buying and Selling

In related news, Director Jason M. Kelly sold 2,515 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was 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 of the company's stock, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 2,785 shares of company stock valued at $112,078. 6.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On German American Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of GABC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of German American Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,932 shares of the bank's stock worth $635,000 after purchasing an additional 711 shares during the last quarter. AQR Capital Management LLC increased its stake in German American Bancorp by 161.6% during the first 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of German American Bancorp by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,370 shares of the bank's stock valued at $2,076,000 after buying an additional 4,907 shares during the period. 46.90% of the stock is owned by institutional investors.

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.