Pettinga Financial Advisors LLC Purchases 443 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Pettinga Financial Advisors LLC lifted its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,291 shares of the bank’s stock after purchasing an additional 443 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in German American Bancorp were worth $258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its position in shares of German American Bancorp by 3.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 116,277 shares of the bank’s stock valued at $4,110,000 after purchasing an additional 4,076 shares during the period. Chatham Capital Group Inc. increased its position in shares of German American Bancorp by 1.7% during the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock worth $1,779,000 after acquiring an additional 840 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of German American Bancorp during the first quarter worth $6,828,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of German American Bancorp by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank’s stock valued at $1,040,000 after purchasing an additional 2,326 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of German American Bancorp by 186.2% during the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after buying an additional 1,339 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Stock Performance

Shares of GABC stock traded up $1.56 on Friday, reaching $40.24. The stock had a trading volume of 169,164 shares, compared to its average volume of 113,286. German American Bancorp, Inc. has a 12 month low of $24.85 and a 12 month high of $42.78. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 14.12 and a beta of 0.62. The firm’s 50-day moving average is $36.99 and its two-hundred day moving average is $34.08. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.29.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. The firm had revenue of $64.89 million for the quarter, compared to analyst estimates of $60.20 million. German American Bancorp had a return on equity of 13.33% and a net margin of 24.44%. On average, research analysts expect that German American Bancorp, Inc. will post 2.63 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Saturday, August 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, August 9th. German American Bancorp’s dividend payout ratio is currently 37.89%.

Insider Buying and Selling

In related news, Director Diane B. Medley bought 710 shares of German American Bancorp stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $36.37 per share, with a total value of $25,822.70. Following the acquisition, the director now owns 4,370 shares in the company, valued at approximately $158,936.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas W. Seger bought 3,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the transaction, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diane B. Medley purchased 710 shares of German American Bancorp stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the transaction, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. The disclosure for this purchase can be found here. Insiders have purchased 4,104 shares of company stock valued at $151,040 over the last 90 days. 6.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GABC shares. StockNews.com lowered German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Raymond James boosted their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler raised their price objective on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Hovde Group increased their price target on German American Bancorp from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.67.

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.