Renaissance Technologies LLC Invests $207,000 in German American Bancorp, Inc. (NASDAQ:GABC)

Renaissance Technologies LLC purchased a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,849 shares of the bank’s stock, valued at approximately $207,000.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its stake in German American Bancorp by 186.2% in the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after purchasing an additional 1,339 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of German American Bancorp during the fourth quarter worth approximately $251,000. LSV Asset Management increased its holdings in shares of German American Bancorp by 96.4% in the first quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock valued at $252,000 after purchasing an additional 3,565 shares in the last quarter. Pettinga Financial Advisors LLC raised its position in German American Bancorp by 6.5% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after purchasing an additional 443 shares during the last quarter. Finally, Diversified Trust Co boosted its position in German American Bancorp by 20.6% in the 1st quarter. Diversified Trust Co now owns 12,002 shares of the bank’s stock valued at $416,000 after buying an additional 2,050 shares during the last quarter. 46.90% of the stock is owned by institutional investors.

Insider Buying and Selling at German American Bancorp

In related news, Director Thomas W. Seger acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the acquisition, the director now owns 484,342 shares of the company’s stock, valued at approximately $17,823,785.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other German American Bancorp news, Director Diane B. Medley purchased 710 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $36.37 per share, with a total value of $25,822.70. Following the acquisition, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas W. Seger bought 3,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $36.80 per share, with a total value of $110,400.00. Following the completion of the transaction, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 4,078 shares of company stock worth $150,203. Corporate insiders own 6.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Raymond James upped their price objective on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler boosted their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.67.

German American Bancorp Stock Performance

NASDAQ:GABC opened at $39.45 on Friday. The stock has a fifty day moving average price of $38.66 and a 200-day moving average price of $35.68. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 14.14 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83. German American Bancorp, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $42.78.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $64.89 million during the quarter, compared to the consensus estimate 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 analysts anticipate that German American Bancorp, Inc. will post 2.7 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.74%. German American Bancorp’s dividend payout ratio is presently 38.71%.

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.