Martingale Asset Management L P Invests $484,000 in German American Bancorp, Inc. (NASDAQ:GABC)

Martingale Asset Management L P purchased a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,500 shares of the bank's stock, valued at approximately $484,000.

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of German American Bancorp during the third quarter valued at $99,000. Renaissance Technologies LLC purchased a new stake in shares of German American Bancorp during the second quarter valued at $207,000. BNP Paribas Financial Markets boosted its stake in shares of German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank's stock valued at $241,000 after purchasing an additional 365 shares during the period. SG Americas Securities LLC purchased a new stake in shares of German American Bancorp during the third quarter valued at $247,000. Finally, Pettinga Financial Advisors LLC boosted its stake in shares of German American Bancorp by 6.5% during the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank's stock valued at $258,000 after purchasing an additional 443 shares during the period. Institutional investors own 46.90% of the company's stock.

German American Bancorp Price Performance

NASDAQ GABC traded up $0.62 during mid-day trading on Wednesday, hitting $45.45. The stock had a trading volume of 75,138 shares, compared to its average volume of 101,912. The firm's 50 day moving average is $41.86 and its 200 day moving average is $38.41. German American Bancorp, Inc. has a twelve month low of $29.61 and a twelve month high of $47.08. 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 $1.35 billion, a price-to-earnings ratio of 16.22 and a beta of 0.63.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million during the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. Equities research analysts forecast that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp's dividend payout ratio (DPR) is 38.99%.

Analyst Ratings Changes

A number of research firms recently weighed in on GABC. Keefe, Bruyette & Woods upped 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. Hovde Group upgraded shares of German American Bancorp from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Finally, Stephens started coverage on German American Bancorp in a research report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 target price on the stock. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $45.40.

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.