PNC Financial Services Group Inc. Buys 821 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

PNC Financial Services Group Inc. lifted its position in German American Bancorp, Inc. (NASDAQ:GABC) by 3.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,625 shares of the bank’s stock after acquiring an additional 821 shares during the period. PNC Financial Services Group Inc.’s holdings in German American Bancorp were worth $950,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in German American Bancorp in the third quarter valued at $99,000. BNP Paribas Financial Markets raised its holdings in shares of German American Bancorp by 6.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after purchasing an additional 365 shares during the period. Kentucky Trust Co acquired a new stake in German American Bancorp in the 4th quarter valued at about $362,000. Forvis Mazars Wealth Advisors LLC grew its holdings in German American Bancorp by 4.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank’s stock worth $417,000 after purchasing an additional 405 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in German American Bancorp during the third quarter worth approximately $406,000. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at German American Bancorp

In related news, Director Diane B. Medley bought 1,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the transaction, the director now owns 5,370 shares in the company, valued at $210,557.70. The trade was a 22.88 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 1,064 shares of company stock valued at $41,764 in the last quarter. Company insiders own 6.16% of the company’s stock.

German American Bancorp Price Performance

German American Bancorp stock opened at $38.77 on Tuesday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.75 and a beta of 0.60. The stock’s 50 day moving average is $39.62 and its 200-day moving average is $40.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a 12 month low of $31.06 and a 12 month high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. Equities research analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a $0.29 dividend. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.16 annualized dividend and a yield of 2.99%. German American Bancorp’s payout ratio is 41.13%.

Analysts Set New Price Targets

GABC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Piper Sandler dropped their price target on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.40.

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.