Royce & Associates LP Buys 184,065 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Royce & Associates LP lifted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABCFree Report) by 138.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 317,221 shares of the bank’s stock after purchasing an additional 184,065 shares during the quarter. Royce & Associates LP’s holdings in German American Bancorp were worth $12,759,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GABC. Principal Financial Group Inc. purchased a new position in German American Bancorp during the third quarter worth about $597,000. German American Bancorp Inc. grew its position in German American Bancorp by 160.1% during the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after buying an additional 316,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in German American Bancorp by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock worth $36,988,000 after buying an additional 32,816 shares in the last quarter. Cerity Partners LLC grew its position in German American Bancorp by 1.1% during the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after buying an additional 323 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in German American Bancorp during the third quarter worth about $99,000. 46.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on GABC. Keefe, Bruyette & Woods boosted their target price on German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Piper Sandler cut their price objective on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.40.

Check Out Our Latest Research Report on GABC

German American Bancorp Price Performance

GABC opened at $38.77 on Tuesday. The stock has a 50-day moving average price of $39.62 and a 200-day moving average price of $40.81. German American Bancorp, Inc. has a 12-month low of $31.06 and a 12-month high of $47.08. 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 stock has a market capitalization of $1.45 billion, a P/E ratio of 13.75 and a beta of 0.60.

German American Bancorp (NASDAQ:GABCGet Free Report) last released its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share 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 analysts predict that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Monday, February 10th. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s payout ratio is 41.13%.

Insider Activity

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

German American Bancorp Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for German American Bancorp, Inc. (NASDAQ:GABCFree Report).

Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

Receive News & Ratings for German American Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for German American Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.