Principal Financial Group Inc. Purchases Shares of 15,411 German American Bancorp, Inc. (NASDAQ:GABC)

Principal Financial Group Inc. acquired a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,411 shares of the bank's stock, valued at approximately $597,000. Principal Financial Group Inc. owned about 0.05% of German American Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kennedy Capital Management LLC bought a new position in German American Bancorp in the 1st quarter valued at $6,828,000. LSV Asset Management grew its holdings in shares of German American Bancorp by 303.3% in the second quarter. LSV Asset Management now owns 29,300 shares of the bank's stock worth $1,036,000 after purchasing an additional 22,035 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of German American Bancorp by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank's stock worth $1,040,000 after purchasing an additional 2,326 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in German American Bancorp in the 2nd quarter worth about $5,887,000. Finally, Hantz Financial Services Inc. bought a new stake in German American Bancorp during the 2nd quarter valued at about $1,034,000. Hedge funds and other institutional investors own 46.90% of the company's stock.

German American Bancorp Stock Down 0.7 %

German American Bancorp stock traded down $0.30 during mid-day trading on Monday, reaching $45.66. 90,916 shares of the company were exchanged, compared to its average volume of 103,005. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $1.36 billion, a P/E ratio of 16.48 and a beta of 0.61. The business has a fifty day moving average of $41.19 and a 200 day moving average of $37.89. German American Bancorp, Inc. has a 12-month low of $27.23 and a 12-month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The firm had revenue of $62.40 million during the quarter, compared to analysts' expectations of $62.80 million. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp's payout ratio is currently 38.99%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James raised their target price 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. StockNews.com downgraded German American Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th. Piper Sandler upped 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. Hovde Group raised German American Bancorp from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Finally, Stephens initiated coverage on German American Bancorp in a report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.25.

German American Bancorp 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.