Northern Trust Corp Raises Stock Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Northern Trust Corp increased its position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,393 shares of the bank's stock after buying an additional 13,330 shares during the period. Northern Trust Corp owned 0.93% of German American Bancorp worth $11,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tudor Investment Corp ET AL increased its stake in shares of German American Bancorp by 60.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 52,365 shares of the bank's stock valued at $2,106,000 after buying an additional 19,780 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of German American Bancorp by 5.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,688 shares of the bank's stock valued at $1,396,000 after acquiring an additional 1,676 shares during the period. Hsbc Holdings PLC bought a new position in shares of German American Bancorp during the 4th quarter worth about $847,000. Tower Research Capital LLC TRC grew its stake in German American Bancorp by 399.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock valued at $39,000 after acquiring an additional 775 shares during the period. Finally, MetLife Investment Management LLC grew its position in German American Bancorp by 5.3% in the 4th quarter. MetLife Investment Management LLC now owns 17,387 shares of the bank's stock valued at $699,000 after purchasing an additional 878 shares during the period. Institutional investors own 46.90% of the company's stock.

Wall Street Analysts Forecast Growth

GABC has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of 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 company. Based on data from MarketBeat.com, German American Bancorp has a consensus rating of "Hold" and an average target price of $45.20.

German American Bancorp Stock Performance

Shares of NASDAQ GABC traded down $0.07 during midday trading on Tuesday, hitting $39.72. 78,654 shares of the company's stock traded hands, compared to its average volume of 108,457. 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 $1.49 billion, a price-to-earnings ratio of 14.09 and a beta of 0.61. The firm has a fifty day moving average of $37.34 and a 200 day moving average of $40.12. German American Bancorp, Inc. has a 1 year low of $31.06 and a 1 year high of $47.08.

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

German American Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Saturday, May 10th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 9th. German American Bancorp's dividend payout ratio (DPR) is 46.77%.

Insider Buying and Selling at German American Bancorp

In related news, Director Diane B. Medley purchased 1,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the purchase, the director now owns 5,370 shares of the company's stock, valued at approximately $210,557.70. The trade was a 22.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 1,135 shares of company stock worth $44,456 over the last quarter. Insiders own 6.16% of the company's stock.

German American Bancorp 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.