Hsbc Holdings PLC Acquires New Stake in German American Bancorp, Inc. (NASDAQ:GABC)

Hsbc Holdings PLC acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,948 shares of the bank's stock, valued at approximately $847,000. Hsbc Holdings PLC owned approximately 0.07% of German American Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank's stock valued at $67,557,000 after acquiring an additional 196,003 shares in the last quarter. Royce & Associates LP grew its stake in German American Bancorp by 138.2% in the 4th quarter. Royce & Associates LP now owns 317,221 shares of the bank's stock valued at $12,759,000 after purchasing an additional 184,065 shares during the period. First Trust Advisors LP increased its position in shares of German American Bancorp by 437.1% during the 4th quarter. First Trust Advisors LP now owns 96,438 shares of the bank's stock valued at $3,879,000 after purchasing an additional 78,482 shares during the last quarter. Barclays PLC raised its stake 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 purchasing an additional 59,048 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of German American Bancorp by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank's stock worth $40,195,000 after buying an additional 44,845 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company's stock.

German American Bancorp Stock Performance

NASDAQ GABC traded down $0.29 during trading on Friday, hitting $38.80. 79,121 shares of the company's stock traded hands, compared to its average volume of 108,037. 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 stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.76 and a beta of 0.61. German American Bancorp, Inc. has a 12-month low of $31.06 and a 12-month high of $47.08. The business has a 50 day moving average of $37.19 and a 200-day moving average of $40.15.

German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.07. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. The company had revenue of $81.41 million for the quarter, compared to analysts' expectations of $79.60 million. As a group, equities research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Saturday, May 10th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, May 9th. German American Bancorp's dividend payout ratio (DPR) is presently 46.77%.

Insider Activity at German American Bancorp

In related news, Director Diane B. Medley bought 1,000 shares of German American Bancorp stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $39.21 per share, with a total value of $39,210.00. Following the acquisition, the director now directly owns 5,370 shares of the company's stock, valued at $210,557.70. This represents a 22.88 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 1,090 shares of company stock worth $42,697. 6.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods raised their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, German American Bancorp presently has an average rating of "Hold" and an average target price 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.