Franklin Resources Inc. grew its position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,708,130 shares of the bank's stock after acquiring an additional 196,003 shares during the quarter. Franklin Resources Inc. owned 5.76% of German American Bancorp worth $67,557,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of German American Bancorp by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 704,094 shares of the bank's stock worth $27,289,000 after buying an additional 11,386 shares during the last quarter. Barclays PLC raised its holdings in German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank's stock worth $2,684,000 after acquiring an additional 59,048 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in German American Bancorp during the third quarter valued at approximately $406,000. State Street Corp grew 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 valued at $29,941,000 after purchasing an additional 50,206 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of German American Bancorp during the 3rd quarter worth approximately $484,000. 46.90% of the stock is owned by institutional investors.
German American Bancorp Stock Performance
GABC traded down $0.67 during trading hours on Tuesday, reaching $43.81. The company's stock had a trading volume of 88,672 shares, compared to its average volume of 101,516. The company's 50-day moving average is $43.08 and its 200-day moving average is $39.19. German American Bancorp, Inc. has a 52 week low of $30.26 and a 52 week high of $47.08. The firm has a market cap of $1.30 billion, a PE ratio of 16.06 and a beta of 0.63. 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 (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate 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, equities analysts forecast that German American Bancorp, Inc. will post 2.76 EPS for the current year.
German American Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 annualized dividend and a yield of 2.47%. German American Bancorp's dividend payout ratio (DPR) is presently 38.99%.
Wall Street Analyst Weigh In
Several research firms have recently commented on GABC. Hovde Group raised German American Bancorp from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Stephens assumed coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of German American Bancorp from $43.00 to $46.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, German American Bancorp has an average rating of "Hold" and an average target price of $45.40.
View Our Latest Analysis on German American Bancorp
About German American Bancorp
(
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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