State Street Corp Has $29.94 Million Stake in German American Bancorp, Inc. (NASDAQ:GABC)

State Street Corp grew its holdings in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 772,675 shares of the bank's stock after purchasing an additional 50,206 shares during the quarter. State Street Corp owned approximately 2.60% of German American Bancorp worth $29,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of German American Bancorp during the third quarter worth $99,000. Renaissance Technologies LLC acquired a new position in shares of German American Bancorp in the 2nd quarter valued at approximately $207,000. BNP Paribas Financial Markets increased its position 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 worth $241,000 after acquiring an additional 365 shares in the last quarter. SG Americas Securities LLC bought a new stake in German American Bancorp in the 3rd quarter valued at $247,000. Finally, Semanteon Capital Management LP acquired a new position in German American Bancorp in the 3rd quarter worth $346,000. 46.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on GABC shares. Keefe, Bruyette & Woods boosted their price target on German American Bancorp from $43.00 to $46.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Hovde Group raised German American Bancorp from a "market perform" rating to an "outperform" rating and upped 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 shares of German American Bancorp in a report on Tuesday, October 15th. They issued an "overweight" rating and a $45.00 price objective on the stock. 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. According to data from MarketBeat.com, German American Bancorp currently has a consensus rating of "Hold" and a consensus target price of $45.40.

German American Bancorp Stock Up 0.5 %

NASDAQ GABC traded up $0.21 during trading hours on Friday, hitting $41.21. 267,846 shares of the company traded hands, compared to its average volume of 102,198. 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 business's 50-day moving average is $43.34 and its 200-day moving average is $39.42. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.88 and a beta of 0.63. German American Bancorp, Inc. has a twelve month low of $30.26 and a twelve month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The company 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%. Sell-side analysts anticipate that German American Bancorp, Inc. will post 2.76 earnings per share for the current 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 paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.62%. German American Bancorp's dividend payout ratio is presently 38.99%.

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.