AlphaQuest LLC Buys Shares of 7,915 German American Bancorp, Inc. (NASDAQ:GABC)

AlphaQuest LLC purchased a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,915 shares of the bank's stock, valued at approximately $318,000.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in shares of German American Bancorp during the third quarter worth about $597,000. Barclays PLC lifted its stake 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 worth $2,684,000 after acquiring an additional 59,048 shares during the period. State Street Corp boosted its holdings in shares of German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank's stock valued at $29,941,000 after acquiring an additional 50,206 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of German American Bancorp by 154.6% during the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank's stock worth $2,358,000 after acquiring an additional 36,954 shares during the period. Finally, German American Bancorp Inc. raised its holdings in German American Bancorp by 160.1% during the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock worth $19,918,000 after purchasing an additional 316,400 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company's stock.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 1,000 shares of German American Bancorp stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $39.21 per share, with a total value 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 approximately $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have acquired 1,086 shares of company stock valued at $42,621. Insiders own 6.16% of the company's stock.

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German American Bancorp Price Performance

Shares of NASDAQ:GABC traded up $0.06 during trading on Tuesday, hitting $38.83. 96,421 shares of the stock were exchanged, compared to its average volume of 98,895. The company has a market cap of $1.45 billion, a PE ratio of 13.77 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $39.62 and a two-hundred day moving average price of $40.81. German American Bancorp, Inc. has a 12-month low of $31.06 and a 12-month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. On average, analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.29 dividend. The ex-dividend date was Monday, February 10th. This is a positive change from German American Bancorp's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.99%. German American Bancorp's payout ratio is currently 41.13%.

Analyst Ratings Changes

Several equities analysts have issued reports on GABC shares. Piper Sandler dropped their target price on German American Bancorp from $49.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on German American Bancorp from $46.00 to $47.00 and gave the stock 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 given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, German American Bancorp has an average rating of "Hold" and a consensus price target of $46.40.

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.