Zachary Bawel Acquires 401 Shares of German American Bancorp (NASDAQ:GABC) Stock

Key Points

• Director Zachary Bawel purchased 401 shares of German American Bancorp at an average price of $49.89, investing approximately $20,006 and increasing his holdings by 1.5% to 27,215 shares.
• GABC shares traded at $49.22, while the bank reported quarterly EPS of $1.02, surpassing estimates of $0.92. The company also pays a quarterly dividend of $0.31 per share, representing a 2.5% yield.
• Analysts maintain a consensus rating of “Moderate Buy” with an average price target of $53.33; institutional investors own 46.9% of the company.

German American Bancorp, Inc. (NASDAQ:GABC - Get Free Report) Director Zachary Bawel bought 401 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average price of $49.89 per share, for a total transaction of $20,005.89. Following the acquisition, the director directly owned 27,215 shares of the company's stock, valued at $1,357,756.35. The trade was a 1.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

German American Bancorp Stock Performance

Shares of NASDAQ GABC traded down $0.60 during midday trading on Wednesday, hitting $49.22. 146,797 shares of the stock traded hands, compared to its average volume of 150,750. The firm has a market capitalization of $1.85 billion, a P/E ratio of 12.99 and a beta of 0.58. German American Bancorp, Inc. has a one year low of $37.19 and a one year high of $52.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day moving average of $49.55 and a two-hundred day moving average of $45.53.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. German American Bancorp had a return on equity of 12.14% and a net margin of 28.25%.The company had revenue of $99.95 million during the quarter, compared to analysts' expectations of $99.22 million. On average, equities analysts forecast that German American Bancorp, Inc. will post 3.86 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 10th. German American Bancorp's payout ratio is 32.72%.

Institutional Trading of German American Bancorp

Several institutional investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of German American Bancorp during the second quarter valued at approximately $1,465,000. Dimensional Fund Advisors LP grew its stake in German American Bancorp by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank's stock valued at $50,982,000 after acquiring an additional 31,627 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in German American Bancorp during the second quarter valued at $14,364,000. Glenview Trust Co increased its holdings in German American Bancorp by 394.8% in the 1st quarter. Glenview Trust Co now owns 37,770 shares of the bank's stock valued at $1,578,000 after acquiring an additional 30,137 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in German American Bancorp in the 2nd quarter worth $10,440,000. Hedge funds and other institutional investors own 46.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GABC. Piper Sandler reissued an "overweight" rating and set a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a research report on Thursday, July 30th. Weiss Ratings downgraded German American Bancorp from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, September 1st. Raymond James Financial initiated coverage on German American Bancorp in a report on Wednesday, July 8th. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised their price objective on German American Bancorp from $47.00 to $51.00 and gave the stock a "market perform" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded German American Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.33.

German American Bancorp Company Profile

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides a range of banking and financial services to individuals, families, farmers, businesses and other organizations.

Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.

German American Bancorp traces its history to the founding of German American Bank in 1910.

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