Kentucky Trust Co Acquires New Position in German American Bancorp, Inc. (NASDAQ:GABC)

Kentucky Trust Co bought a new stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 9,000 shares of the bank's stock, valued at approximately $362,000.

A number of other hedge funds have also recently modified their holdings of the stock. Cerity Partners LLC grew its position in German American Bancorp by 1.1% during the 3rd quarter. Cerity Partners LLC now owns 30,922 shares of the bank's stock worth $1,198,000 after purchasing an additional 323 shares during the last quarter. BNP Paribas Financial Markets grew its position in German American Bancorp by 6.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank's stock worth $241,000 after purchasing an additional 365 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. grew its position in German American Bancorp by 2.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank's stock worth $2,419,000 after purchasing an additional 1,290 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in German American Bancorp by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,090 shares of the bank's stock worth $692,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in German American Bancorp during the 3rd quarter worth $99,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

German American Bancorp Stock Performance

Shares of NASDAQ:GABC traded down $0.20 during midday trading on Friday, hitting $40.33. The stock had a trading volume of 60,865 shares, compared to its average volume of 118,616. The company has a market capitalization of $1.20 billion, a PE ratio of 14.30 and a beta of 0.64. The stock has a 50 day moving average price of $40.73 and a two-hundred day moving average price of $40.66. 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, Inc. has a 1 year low of $30.66 and a 1 year high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate 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, equities analysts predict that German American Bancorp, Inc. will post 2.95 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be paid a $0.29 dividend. This is a boost from German American Bancorp's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.16 annualized dividend and a dividend yield of 2.88%. German American Bancorp's dividend payout ratio (DPR) is 41.13%.

Analyst Ratings Changes

Several research analysts have issued reports on GABC shares. Hovde Group raised shares of German American Bancorp from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on shares of German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Finally, Piper Sandler lowered their target price on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. One research 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. Based on data from MarketBeat, German American Bancorp presently has an average rating of "Hold" and an average target price of $46.40.

About German American Bancorp

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.