Principal Financial Group Inc. acquired a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,411 shares of the bank's stock, valued at approximately $597,000. Principal Financial Group Inc. owned approximately 0.05% of German American Bancorp at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in GABC. Franklin Resources Inc. lifted its holdings in shares of 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 buying an additional 196,003 shares during the period. Geode Capital Management LLC boosted its position in German American Bancorp by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 704,094 shares of the bank's stock valued at $27,289,000 after acquiring an additional 11,386 shares in the last quarter. Barclays PLC boosted its position in German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank's stock valued at $2,684,000 after purchasing an additional 59,048 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in German American Bancorp in the third quarter valued at about $406,000. Finally, State Street Corp raised its holdings in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank's stock worth $29,941,000 after purchasing an additional 50,206 shares in the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.
German American Bancorp Stock Performance
GABC traded down $0.55 on Monday, reaching $38.51. 72,882 shares of the stock were exchanged, compared to its average volume of 80,394. 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 company's 50-day moving average price is $43.34 and its 200 day moving average price is $40.08. The firm has a market capitalization of $1.14 billion, a PE ratio of 13.90 and a beta of 0.63. German American Bancorp, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $47.08.
German American Bancorp (NASDAQ:GABC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $62.40 million during the quarter, compared to analysts' expectations 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, sell-side analysts forecast that German American Bancorp, Inc. will post 2.76 EPS for the current fiscal year.
German American Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp's dividend payout ratio (DPR) is currently 38.99%.
Analysts Set New Price Targets
GABC has been the subject of several recent analyst reports. Stephens began coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They set an "overweight" rating and a $45.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on German American Bancorp from $43.00 to $46.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Hovde Group upgraded German American Bancorp from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.40.
Check Out Our Latest Research Report on German American Bancorp
German American Bancorp Profile
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Free Report)
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.
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