Vanguard Group Inc. Sells 60,864 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Vanguard Group Inc. trimmed its position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,749,424 shares of the bank's stock after selling 60,864 shares during the quarter. Vanguard Group Inc. owned 5.89% of German American Bancorp worth $70,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GABC. Quantbot Technologies LP boosted its stake in German American Bancorp by 15.2% in the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock valued at $119,000 after buying an additional 389 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of German American Bancorp during the 4th quarter worth about $217,000. LPL Financial LLC acquired a new position in German American Bancorp in the fourth quarter valued at about $235,000. BNP Paribas Financial Markets increased its holdings 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 buying an additional 365 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in shares of German American Bancorp in the fourth quarter valued at approximately $318,000. Institutional investors and hedge funds own 46.90% of the company's stock.

Insider Activity at German American Bancorp

In other news, Director Diane B. Medley bought 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $39.21 per share, with a total value of $39,210.00. Following the acquisition, the director now directly owns 5,370 shares in the company, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 1,086 shares of company stock valued at $42,621. 6.16% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Several analysts have recently commented on GABC shares. Keefe, Bruyette & Woods increased their target price on German American Bancorp from $46.00 to $47.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th. Piper Sandler dropped 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, German American Bancorp has an average rating of "Hold" and a consensus target price of $46.40.

German American Bancorp Stock Performance

GABC traded down $0.08 during trading hours on Wednesday, reaching $35.21. The company's stock had a trading volume of 7,623 shares, compared to its average volume of 107,871. The firm has a market cap of $1.32 billion, a PE ratio of 12.49 and a beta of 0.61. 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 company's 50-day moving average is $38.15 and its 200-day moving average is $40.38. German American Bancorp, Inc. has a 52 week low of $31.06 and a 52 week high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings data 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 net margin of 23.69% and a return on equity of 12.04%. On average, equities analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a $0.29 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from German American Bancorp's previous quarterly dividend of $0.27. German American Bancorp's dividend payout ratio is 41.13%.

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.