Y Intercept Hong Kong Ltd Takes $406,000 Position in German American Bancorp, Inc. (NASDAQ:GABC)

Y Intercept Hong Kong Ltd bought a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,481 shares of the bank’s stock, valued at approximately $406,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in German American Bancorp during the 3rd quarter valued at approximately $99,000. Renaissance Technologies LLC purchased a new position in German American Bancorp during the second quarter valued at $207,000. BNP Paribas Financial Markets increased its holdings in German American Bancorp by 6.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after acquiring an additional 365 shares during the last quarter. SG Americas Securities LLC purchased a new stake in German American Bancorp in the 3rd quarter worth $247,000. Finally, Pettinga Financial Advisors LLC boosted its holdings in shares of German American Bancorp by 6.5% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Performance

NASDAQ GABC opened at $44.48 on Tuesday. The business’s 50 day moving average price is $43.08 and its 200-day moving average price is $39.19. German American Bancorp, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $47.08. The company has a market cap of $1.32 billion, a P/E ratio of 16.06 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.01. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. The business had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. Sell-side analysts predict that German American Bancorp, Inc. will post 2.76 earnings per share for the current year.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp’s payout ratio is currently 38.99%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Stephens started coverage on German American Bancorp in a research report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their price target on shares of German American Bancorp from $43.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.40.

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.