5,400 Shares in German American Bancorp, Inc. (NASDAQ:GABC) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in German American Bancorp, Inc. (NASDAQ:GABC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,400 shares of the bank’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Franklin Resources Inc. boosted its position in shares of German American Bancorp by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock worth $67,557,000 after acquiring an additional 196,003 shares in the last quarter. Royce & Associates LP lifted its stake in German American Bancorp by 138.2% during the fourth 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 last quarter. Barclays PLC boosted its holdings in German American Bancorp by 577.6% in the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock valued at $2,684,000 after purchasing an additional 59,048 shares in the last quarter. State Street Corp increased its stake in German American Bancorp by 6.9% in the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in German American Bancorp by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock worth $40,195,000 after purchasing an additional 44,845 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at German American Bancorp

In related news, Director Diane B. Medley bought 1,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the purchase, the director now owns 5,370 shares of the company’s stock, valued at $210,557.70. This trade represents a 22.88 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 1,086 shares of company stock worth $42,621 in the last quarter. Company insiders own 6.16% of the company’s stock.

German American Bancorp Price Performance

GABC stock opened at $34.72 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.30 billion, a P/E ratio of 12.31 and a beta of 0.61. The business has a 50 day simple moving average of $39.17 and a 200-day simple moving average of $40.62. German American Bancorp, Inc. has a twelve month low of $31.06 and a twelve month high of $47.08.

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

German American Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s dividend payout ratio (DPR) is currently 41.13%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GABC. Piper Sandler lowered their target price on shares of 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 boosted their price target on shares of 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.40.

About German American Bancorp

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.