German American Bancorp, Inc. (NASDAQ:GABC) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 43.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 133,156 shares of the bank’s stock after purchasing an additional 40,219 shares during the quarter. Royce & Associates LP’s holdings in German American Bancorp were worth $5,160,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pettinga Financial Advisors LLC lifted its position in shares of German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after purchasing an additional 443 shares in the last quarter. Chatham Capital Group Inc. grew its holdings in German American Bancorp by 1.7% during the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock valued at $1,779,000 after purchasing an additional 840 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in German American Bancorp by 5.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after buying an additional 1,097 shares during the last quarter. Rhumbline Advisers increased its stake in shares of German American Bancorp by 2.6% in the second quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock worth $1,697,000 after purchasing an additional 1,214 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. lifted its holdings in shares of German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock worth $2,419,000 after buying an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Down 0.4 %

German American Bancorp stock opened at $45.43 on Tuesday. German American Bancorp, Inc. has a fifty-two week low of $27.23 and a fifty-two week high of $46.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.83. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 16.40 and a beta of 0.61. The company’s 50 day simple moving average is $40.53 and its 200 day simple moving average is $37.43.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, sell-side analysts anticipate that German American Bancorp, Inc. will post 2.74 EPS for the current year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, November 8th. German American Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GABC. Piper Sandler upped their price objective on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Raymond James boosted their target price on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and raised their price target for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Stephens started coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price for the company. Finally, StockNews.com lowered German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.25.

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.