Royce & Associates LP Sells 14,883 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Royce & Associates LP reduced its stake in German American Bancorp, Inc. (NASDAQ:GABC – Get Rating) by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,352 shares of the bank’s stock after selling 14,883 shares during the period. Royce & Associates LP owned approximately 0.13% of German American Bancorp worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. CWM LLC bought a new stake in German American Bancorp during the fourth quarter worth $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in German American Bancorp during the fourth quarter worth $36,000. Independence Bank of Kentucky lifted its stake in German American Bancorp by 83.3% during the first quarter. Independence Bank of Kentucky now owns 2,200 shares of the bank’s stock worth $84,000 after purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in German American Bancorp during the fourth quarter worth $122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in German American Bancorp by 91.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,294 shares of the bank’s stock worth $125,000 after purchasing an additional 1,573 shares during the last quarter. 38.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GABC has been the subject of several recent analyst reports. Piper Sandler upped their target price on German American Bancorp to $39.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com upgraded German American Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th.

German American Bancorp Stock Up 0.4 %

Shares of GABC opened at $37.38 on Friday. German American Bancorp, Inc. has a 52 week low of $32.76 and a 52 week high of $43.79. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.05 and a beta of 0.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a fifty day moving average of $35.96 and a 200-day moving average of $37.41.

German American Bancorp (NASDAQ:GABC – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The bank reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. German American Bancorp had a return on equity of 13.29% and a net margin of 29.43%. As a group, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.24 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 20th. Investors of record on Wednesday, August 10th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. German American Bancorp’s payout ratio is 34.59%.

German American Bancorp Company Profile

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German American Bancorp, Inc operates as a bank 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.