Intech Investment Management LLC Takes Position in German American Bancorp, Inc. (NASDAQ:GABC)

Intech Investment Management LLC purchased a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,162 shares of the bank's stock, valued at approximately $489,000.

Several other hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in German American Bancorp by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank's stock worth $67,557,000 after purchasing an additional 196,003 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of German American Bancorp by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank's stock valued at $40,195,000 after buying an additional 44,845 shares during the last quarter. State Street Corp increased its position in shares of German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank's stock valued at $29,941,000 after acquiring an additional 50,206 shares during the period. Geode Capital Management LLC raised its stake in German American Bancorp by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 704,094 shares of the bank's stock worth $27,289,000 after acquiring an additional 11,386 shares during the last quarter. Finally, Royce & Associates LP grew its stake in German American Bancorp by 138.2% during the 4th quarter. Royce & Associates LP now owns 317,221 shares of the bank's stock valued at $12,759,000 after purchasing an additional 184,065 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GABC. Piper Sandler reduced their price objective on 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 increased 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 research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, German American Bancorp currently has an average rating of "Hold" and an average target price of $46.40.

Insider Buying and Selling

In other news, Director Diane B. Medley acquired 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the acquisition, the director now owns 5,370 shares in the company, valued at approximately $210,557.70. This represents a 22.88 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 1,086 shares of company stock worth $42,621 in the last 90 days. Insiders own 6.16% of the company's stock.

German American Bancorp Price Performance

Shares of GABC stock traded up $0.18 during mid-day trading on Thursday, hitting $38.23. 70,238 shares of the stock were exchanged, compared to its average volume of 102,279. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a 52-week low of $31.06 and a 52-week high of $47.08. The firm has a fifty day moving average of $39.58 and a 200 day moving average of $40.73. The company has a market cap of $1.43 billion, a PE ratio of 13.56 and a beta of 0.60.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. Research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.29 per share. The ex-dividend date was Monday, February 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from German American Bancorp's previous quarterly dividend of $0.27. German American Bancorp's payout ratio is currently 41.13%.

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.