Dynamic Technology Lab Private Ltd acquired a new stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,383 shares of the bank's stock, valued at approximately $418,000.
A number of other hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of German American Bancorp by 23.8% during the 4th quarter. Wells Fargo & Company MN now owns 18,431 shares of the bank's stock worth $741,000 after acquiring an additional 3,543 shares in the last quarter. Franklin Resources Inc. grew its holdings in German American Bancorp by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank's stock valued at $70,336,000 after buying an additional 40,642 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in German American Bancorp during the fourth quarter worth about $201,000. LPL Financial LLC purchased a new stake in shares of German American Bancorp during the 4th quarter valued at approximately $235,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in German American Bancorp in the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 46.90% of the company's stock.
German American Bancorp Stock Performance
Shares of GABC stock traded up $0.86 during mid-day trading on Tuesday, hitting $35.42. 46,232 shares of the stock were exchanged, compared to its average volume of 107,642. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.57 and a beta of 0.61. 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 12-month low of $31.06 and a 12-month high of $47.08. The stock's fifty day simple moving average is $38.27 and its two-hundred day simple moving average is $40.42.
German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. 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 EPS for the current year.
German American Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a $0.29 dividend. This is an increase from German American Bancorp's previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.28%. German American Bancorp's payout ratio is presently 41.13%.
Analyst Ratings Changes
GABC has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.40.
Check Out Our Latest Stock Analysis on GABC
Insiders Place Their Bets
In related news, Director Diane B. Medley bought 1,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the transaction, the director now owns 5,370 shares of the company's stock, valued at $210,557.70. This represents a 22.88 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have acquired 1,086 shares of company stock worth $42,621. Company insiders own 6.16% of the company's stock.
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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