German American Bancorp, Inc. (NASDAQ:GABC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 5.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 31,050 shares of the bank’s stock after selling 1,850 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of German American Bancorp worth $1,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in German American Bancorp by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 1,305,881 shares of the bank’s stock worth $42,324,000 after acquiring an additional 177,399 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of German American Bancorp by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock valued at $35,426,000 after purchasing an additional 30,050 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of German American Bancorp by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 227,390 shares of the bank’s stock valued at $7,370,000 after purchasing an additional 5,090 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of German American Bancorp by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank’s stock valued at $7,166,000 after purchasing an additional 8,028 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in shares of German American Bancorp in the 1st quarter valued at approximately $6,828,000. 46.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas W. Seger acquired 3,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now directly owns 484,342 shares in the company, valued at $17,823,785.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thomas W. Seger acquired 3,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now directly owns 484,342 shares in the company, valued at $17,823,785.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane B. Medley purchased 710 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $36.37 per share, with a total value of $25,822.70. Following the purchase, the director now owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. The disclosure for this purchase can be found here. Insiders purchased a total of 4,078 shares of company stock worth $150,203 in the last three months. 6.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have 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. Hovde Group upped their target price 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. Piper Sandler upped their target price on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Raymond James upped their target price on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.67.

German American Bancorp Stock Performance

GABC stock opened at $40.69 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.21 billion, a P/E ratio of 14.09 and a beta of 0.62. German American Bancorp, Inc. has a 12-month low of $24.85 and a 12-month high of $42.78. The stock’s 50 day simple moving average is $38.91 and its 200 day simple moving average is $34.99.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results 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 business 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 12.97% and a net margin of 24.44%. As a group, equities research analysts predict that German American Bancorp, Inc. will post 2.7 EPS for the current year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.08 dividend on an annualized basis and a yield of 2.65%. German American Bancorp’s payout ratio is currently 37.89%.

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.