Ellsworth Advisors LLC Makes New $577,000 Investment in German American Bancorp, Inc. (NASDAQ:GABC)

Ellsworth Advisors LLC bought a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,351 shares of the bank's stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. German American Bancorp Inc. grew its position 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 valued at $19,918,000 after acquiring an additional 316,400 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of German American Bancorp by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank's stock valued at $67,557,000 after purchasing an additional 196,003 shares during the last quarter. Barclays PLC raised its position in 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 purchasing an additional 59,048 shares during the period. State Street Corp lifted its stake in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank's stock worth $29,941,000 after purchasing an additional 50,206 shares during the last quarter. Finally, Royce & Associates LP lifted 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 worth $5,160,000 after purchasing an additional 40,219 shares during the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on GABC shares. Stephens assumed coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price objective on the stock. Hovde Group raised German American Bancorp from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price objective on German American Bancorp from $43.00 to $46.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.40.

German American Bancorp Stock Performance

NASDAQ:GABC opened at $39.75 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm's fifty day simple moving average is $42.59 and its 200 day simple moving average is $40.40. The stock has a market cap of $1.18 billion, a P/E ratio of 14.35 and a beta of 0.65. German American Bancorp, Inc. has a twelve month low of $30.66 and a twelve month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. As a group, research analysts predict that German American Bancorp, Inc. will post 2.76 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were paid a $0.27 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. German American Bancorp's dividend payout ratio is presently 38.99%.

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.