Jane Street Group LLC Lowers Stock Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Jane Street Group LLC trimmed its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,130 shares of the bank's stock after selling 24,583 shares during the period. Jane Street Group LLC owned about 0.17% of German American Bancorp worth $1,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GABC. Principal Financial Group Inc. purchased a new position in German American Bancorp in the third quarter worth about $597,000. LSV Asset Management grew its position in German American Bancorp by 303.3% during the second quarter. LSV Asset Management now owns 29,300 shares of the bank's stock valued at $1,036,000 after buying an additional 22,035 shares during the period. State Street Corp boosted its holdings in German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank's stock worth $29,941,000 after buying an additional 50,206 shares during the period. German American Bancorp Inc. increased its stake in German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock worth $19,918,000 after buying an additional 316,400 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in German American Bancorp during the third quarter valued at about $484,000. 46.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

GABC has been the subject of a number of research analyst reports. Hovde Group upgraded German American Bancorp from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on shares of German American Bancorp from $43.00 to $46.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Stephens began coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price target on the stock. One 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's stock. According to MarketBeat.com, German American Bancorp has a consensus rating of "Hold" and a consensus target price of $45.40.

German American Bancorp Price Performance

German American Bancorp stock traded up $0.24 during trading on Wednesday, reaching $40.96. The company had a trading volume of 31,016 shares, compared to its average volume of 101,859. German American Bancorp, Inc. has a 1-year low of $30.26 and a 1-year high of $47.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The firm's 50-day simple moving average is $43.38 and its 200 day simple moving average is $39.61. The firm has a market capitalization of $1.22 billion, a PE ratio of 14.79 and a beta of 0.63.

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, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $62.40 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a yield of 2.64%. German American Bancorp's dividend payout ratio (DPR) is presently 38.99%.

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.