Charles Schwab Investment Management Inc. boosted its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 954,536 shares of the bank's stock after acquiring an additional 32,816 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.22% of German American Bancorp worth $36,988,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in German American Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank's stock valued at $39,930,000 after acquiring an additional 14,478 shares during the last quarter. German American Bancorp Inc. boosted its position 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 buying an additional 316,400 shares in the last quarter. Bank of New York Mellon Corp boosted its position in German American Bancorp by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank's stock valued at $7,166,000 after buying an additional 8,028 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in German American Bancorp in the second quarter valued at approximately $5,887,000. Finally, Aptus Capital Advisors LLC boosted its position in German American Bancorp by 23.8% in the third quarter. Aptus Capital Advisors LLC now owns 134,124 shares of the bank's stock valued at $5,197,000 after buying an additional 25,753 shares in the last quarter. 46.90% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on GABC shares. Stephens started coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 target price on the stock. Hovde Group upgraded shares of German American Bancorp from a "market perform" rating to an "outperform" rating and raised their target price for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, German American Bancorp currently has an average rating of "Hold" and an average price target of $45.25.
Check Out Our Latest Stock Analysis on GABC
German American Bancorp Trading Down 0.2 %
Shares of NASDAQ:GABC traded down $0.07 during mid-day trading on Tuesday, reaching $44.83. 94,550 shares of the company's stock were exchanged, compared to its average volume of 102,186. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 16.18 and a beta of 0.63. The business's fifty day moving average price is $41.74 and its 200-day moving average price is $38.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp, Inc. has a twelve month low of $29.61 and a twelve month high of $47.08.
German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.01. The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. On average, research analysts predict that German American Bancorp, Inc. will post 2.76 EPS for the current fiscal year.
German American Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 yield of 2.41%. German American Bancorp's payout ratio is 38.99%.
German American Bancorp Profile
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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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