Geode Capital Management LLC Sells 9,112 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Geode Capital Management LLC reduced its stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 694,982 shares of the bank's stock after selling 9,112 shares during the quarter. Geode Capital Management LLC owned about 2.34% of German American Bancorp worth $27,959,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its position in shares of German American Bancorp by 15.2% during the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock worth $119,000 after purchasing an additional 389 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in German American Bancorp in the fourth quarter worth approximately $201,000. KLP Kapitalforvaltning AS bought a new position in German American Bancorp in the fourth quarter worth approximately $217,000. LPL Financial LLC acquired a new stake in German American Bancorp in the fourth quarter valued at approximately $235,000. Finally, AlphaQuest LLC bought a new stake in shares of German American Bancorp during the fourth quarter valued at approximately $318,000. 46.90% of the stock is currently owned by institutional investors.

German American Bancorp Stock Performance

Shares of GABC stock traded up $0.61 during trading on Wednesday, reaching $36.99. 14,110 shares of the company's stock traded hands, compared to its average volume of 125,475. The firm's 50-day moving average is $37.68 and its 200 day moving average is $40.30. The company has a market capitalization of $1.38 billion, a P/E ratio of 13.12 and a beta of 0.61. German American Bancorp, Inc. has a 1 year low of $31.06 and a 1 year high of $47.08. 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 posted its earnings results 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%. Equities research analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from German American Bancorp's previous quarterly dividend of $0.27. German American Bancorp's payout ratio is presently 41.13%.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley acquired 1,000 shares of German American Bancorp stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the purchase, the director now owns 5,370 shares in the company, valued at approximately $210,557.70. The trade was a 22.88 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 1,090 shares of company stock valued at $42,697 in the last quarter. 6.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on GABC. Piper Sandler decreased their price objective on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $46.40.

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.