Franklin Resources Inc. Acquires 40,642 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Franklin Resources Inc. lifted its holdings in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,748,772 shares of the bank's stock after buying an additional 40,642 shares during the quarter. Franklin Resources Inc. owned approximately 5.89% of German American Bancorp worth $70,336,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GABC. Quantbot Technologies LP purchased a new stake in German American Bancorp in the third quarter worth about $99,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of German American Bancorp in the 4th quarter worth approximately $201,000. KLP Kapitalforvaltning AS bought a new position in German American Bancorp during the 4th quarter valued at approximately $217,000. LPL Financial LLC purchased a new position in German American Bancorp during the fourth quarter valued at $235,000. Finally, BNP Paribas Financial Markets boosted its holdings in German American Bancorp by 6.2% in the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank's stock worth $241,000 after acquiring an additional 365 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors.

German American Bancorp Stock Performance

Shares of German American Bancorp stock traded up $1.02 during trading on Tuesday, hitting $35.74. 35,489 shares of the company's stock traded hands, compared to its average volume of 106,484. German American Bancorp, Inc. has a 1 year low of $31.06 and a 1 year high of $47.08. The business has a 50-day simple moving average of $39.17 and a 200-day simple moving average of $40.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $1.34 billion, a P/E ratio of 12.67 and a beta of 0.61.

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German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. As a group, 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 declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.25%. This is a boost from German American Bancorp's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 10th. German American Bancorp's dividend payout ratio is presently 41.13%.

Analyst Upgrades and Downgrades

GABC has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Piper Sandler decreased their target price on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $46.40.

Insider Transactions 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, for a total transaction of $39,210.00. Following the completion of the transaction, the director now owns 5,370 shares in the company, valued at $210,557.70. The trade was a 22.88 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 1,086 shares of company stock worth $42,621 in the last ninety days. Insiders own 6.16% of the company's stock.

German American Bancorp Company 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.