German American Bancorp, Inc. (NASDAQ:GABC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 60.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,873 shares of the bank's stock after selling 36,977 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of German American Bancorp worth $960,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Barclays PLC boosted its position in shares of German American Bancorp by 577.6% in the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank's stock valued at $2,684,000 after purchasing an additional 59,048 shares during the period. Franklin Resources Inc. grew its position in shares of German American Bancorp by 13.0% during the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank's stock worth $67,557,000 after acquiring an additional 196,003 shares during the last quarter. Principal Financial Group Inc. purchased a new position in German American Bancorp during the 3rd quarter worth $597,000. Ellsworth Advisors LLC purchased a new position in shares of German American Bancorp in the 4th quarter valued at approximately $577,000. Finally, SG Americas Securities LLC grew its position in German American Bancorp by 84.4% in the 4th quarter. SG Americas Securities LLC now owns 11,747 shares of the bank's stock valued at $472,000 after buying an additional 5,377 shares during the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GABC. Keefe, Bruyette & Woods lifted their price objective on German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Piper Sandler reduced 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 research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.20.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley acquired 1,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the acquisition, the director now directly owns 5,370 shares of the company's stock, valued at $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 1,090 shares of company stock valued at $42,697. Company insiders own 6.16% of the company's stock.

German American Bancorp Price Performance

Shares of German American Bancorp stock traded up $0.88 on Friday, hitting $38.78. The company's stock had a trading volume of 6,334 shares, compared to its average volume of 108,423. The company has a market capitalization of $1.45 billion, a P/E ratio of 13.71 and a beta of 0.61. German American Bancorp, Inc. has a 52-week low of $31.06 and a 52-week high of $47.08. The firm has a fifty day moving average price of $37.30 and a 200-day moving average price of $40.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27.

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

German American Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.16 annualized dividend and a dividend yield of 2.99%. German American Bancorp's dividend payout ratio is currently 41.13%.

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.