German American Bancorp (NASDAQ:GABC) Reaches New 1-Year High Following Dividend Announcement

German American Bancorp, Inc. (NASDAQ:GABC)’s share price reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $38.13 and last traded at $37.91, with a volume of 145282 shares trading hands. The stock had previously closed at $37.73.

The newly announced dividend which will be paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 3.06%. German American Bancorp’s payout ratio is 41.13%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of German American Bancorp from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday. Keefe, Bruyette & Woods increased their price target on German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.20.

German American Bancorp Trading Down 0.0 %

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.44 and a beta of 0.61. 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 firm’s 50 day moving average is $37.30 and its 200 day moving average is $40.22.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.72 by $0.07. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. The business had revenue of $81.41 million during the quarter, compared to the consensus estimate of $79.60 million. Equities analysts forecast that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

Insider Buying and Selling

In other German American Bancorp news, Director Diane B. Medley bought 1,000 shares of German American Bancorp stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the acquisition, the director now directly owns 5,370 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders bought 1,090 shares of company stock valued at $42,697. Company insiders own 6.16% of the company’s stock.

Institutional Investors Weigh In On German American Bancorp

Several hedge funds have recently bought and sold shares of the business. Strategic Value Bank Partners LLC acquired a new position in shares of German American Bancorp in the 1st quarter valued at about $6,145,000. Arizona State Retirement System increased its stake in German American Bancorp by 12.5% in the 1st quarter. Arizona State Retirement System now owns 9,664 shares of the bank’s stock valued at $362,000 after buying an additional 1,076 shares during the period. Cerity Partners LLC boosted its stake in shares of German American Bancorp by 4.5% during the 1st quarter. Cerity Partners LLC now owns 27,423 shares of the bank’s stock valued at $1,028,000 after buying an additional 1,176 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of German American Bancorp by 2.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 34,800 shares of the bank’s stock valued at $1,305,000 after acquiring an additional 914 shares in the last quarter. Finally, Silver Oak Securities Incorporated purchased a new position in shares of German American Bancorp during the 1st quarter valued at $28,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

German American Bancorp Company 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.