Wedge Capital Management L L P NC Sells 35,668 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Wedge Capital Management L L P NC reduced its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 30.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,609 shares of the bank's stock after selling 35,668 shares during the quarter. Wedge Capital Management L L P NC owned about 0.27% of German American Bancorp worth $3,124,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in German American Bancorp by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank's stock valued at $39,930,000 after purchasing an additional 14,478 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in German American Bancorp by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank's stock worth $7,166,000 after acquiring an additional 8,028 shares during the period. Kennedy Capital Management LLC acquired a new position in German American Bancorp during the first quarter worth about $6,828,000. Mutual of America Capital Management LLC bought a new stake in German American Bancorp in the second quarter worth about $5,887,000. Finally, Aptus Capital Advisors LLC lifted its holdings in German American Bancorp by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 108,371 shares of the bank's stock valued at $3,831,000 after acquiring an additional 21,525 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company's stock.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Thomas W. Seger acquired 3,000 shares of the firm's stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the transaction, the director now owns 484,342 shares of the company's stock, valued at $17,823,785.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas W. Seger bought 3,000 shares of the business's stock in a transaction on Friday, August 9th. The stock was bought at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the transaction, the director now directly owns 484,342 shares in the company, valued at $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane B. Medley purchased 710 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the acquisition, the director now owns 4,370 shares in the company, valued at $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.16% of the stock is owned by insiders.

German American Bancorp Trading Up 1.7 %

Shares of GABC traded up $0.70 during midday trading on Wednesday, hitting $40.96. The stock had a trading volume of 122,354 shares, compared to its average volume of 105,228. German American Bancorp, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $42.78. The business has a 50-day simple moving average of $38.85 and a two-hundred day simple moving average of $35.80. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.22 billion, a P/E ratio of 14.37 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.08. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The firm had revenue of $64.89 million during the quarter, compared to analyst estimates of $60.20 million. As a group, equities analysts forecast that German American Bancorp, Inc. will post 2.7 EPS for the current year.

German American Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Saturday, August 10th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. German American Bancorp's dividend payout ratio is 37.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of German American Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, July 30th. Raymond James lifted their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Stephens initiated coverage on German American Bancorp in a research report on Tuesday. They set an "overweight" rating and a $45.00 price objective for the company. Finally, Piper Sandler lifted their target price on German American Bancorp from $34.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $41.75.

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.