Champlain Investment Partners LLC trimmed its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 10.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,252,116 shares of the bank's stock after selling 150,107 shares during the period. Champlain Investment Partners LLC owned 4.22% of German American Bancorp worth $48,519,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of GABC. German American Bancorp Inc. boosted its stake in German American Bancorp by 160.1% in the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock valued at $19,918,000 after acquiring an additional 316,400 shares during the period. Kennedy Capital Management LLC acquired a new position in German American Bancorp in the first quarter valued at approximately $6,828,000. Mutual of America Capital Management LLC acquired a new position in German American Bancorp in the second quarter valued at approximately $5,887,000. Royce & Associates LP boosted its stake in German American Bancorp by 43.3% in the third quarter. Royce & Associates LP now owns 133,156 shares of the bank's stock valued at $5,160,000 after acquiring an additional 40,219 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank's stock valued at $36,988,000 after acquiring an additional 32,816 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on GABC shares. Piper Sandler lifted their target price on German American Bancorp from $34.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. StockNews.com downgraded German American Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th. Stephens initiated coverage on German American Bancorp in a research report on Tuesday, October 15th. They set an "overweight" rating and a $45.00 price objective for the company. Hovde Group upgraded German American Bancorp from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Finally, Raymond James boosted their price objective on German American Bancorp from $40.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, German American Bancorp currently has a consensus rating of "Hold" and a consensus price target of $45.25.
View Our Latest Research Report on German American Bancorp
German American Bancorp Price Performance
NASDAQ:GABC traded up $0.88 during midday trading on Friday, hitting $45.96. 77,048 shares of the stock were exchanged, compared to its average volume of 96,408. German American Bancorp, Inc. has a one year low of $27.23 and a one year high of $46.75. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 16.59 and a beta of 0.61. The business has a 50-day moving average price of $41.07 and a two-hundred day moving average price of $37.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.
German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The firm had revenue of $62.40 million for the quarter, compared to analysts' expectations of $62.80 million. Sell-side analysts predict that German American Bancorp, Inc. will post 2.76 EPS for the current year.
German American Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.35%. German American Bancorp's dividend payout ratio is currently 38.99%.
About German American Bancorp
(
Free Report)
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.
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