Symmetry Partners LLC Invests $390,000 in German American Bancorp, Inc. (NASDAQ:GABC)

Symmetry Partners LLC acquired a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,693 shares of the bank's stock, valued at approximately $390,000.

Several other hedge funds have also added to or reduced their stakes in the business. German American Bancorp Inc. boosted its holdings in shares of German American Bancorp by 160.1% in the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock valued at $19,918,000 after buying an additional 316,400 shares during the period. Franklin Resources Inc. lifted its position in German American Bancorp by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank's stock valued at $67,557,000 after acquiring an additional 196,003 shares in the last quarter. Royce & Associates LP boosted its stake in German American Bancorp by 138.2% in the 4th quarter. Royce & Associates LP now owns 317,221 shares of the bank's stock worth $12,759,000 after purchasing an additional 184,065 shares during the period. Barclays PLC increased its holdings in German American Bancorp by 577.6% during the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank's stock worth $2,684,000 after purchasing an additional 59,048 shares in the last quarter. Finally, State Street Corp raised its stake in shares of German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank's stock valued at $29,941,000 after purchasing an additional 50,206 shares during the period. Institutional investors and hedge funds own 46.90% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on GABC. Piper Sandler decreased their price objective on German American Bancorp from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, German American Bancorp presently has a consensus rating of "Hold" and a consensus price target of $46.40.

German American Bancorp Stock Up 1.0 %

Shares of NASDAQ:GABC traded up $0.39 during midday trading on Monday, reaching $38.59. The company had a trading volume of 138,567 shares, compared to its average volume of 102,018. German American Bancorp, Inc. has a 1-year low of $31.06 and a 1-year high of $47.08. The stock has a market cap of $1.44 billion, a PE ratio of 13.68 and a beta of 0.60. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $39.67 and its 200 day moving average price is $40.77.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. Research analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.29 per share. This is a positive change from German American Bancorp's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Monday, February 10th. German American Bancorp's dividend payout ratio is 41.13%.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley bought 1,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $39.21 per share, with a total value of $39,210.00. Following the acquisition, the director now owns 5,370 shares in the company, valued at $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 1,086 shares of company stock worth $42,621 over the last quarter. 6.16% of the stock is currently owned by insiders.

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.