State Street Corp Has $29.94 Million Stock Position in German American Bancorp, Inc. (NASDAQ:GABC)

State Street Corp grew its position in German American Bancorp, Inc. (NASDAQ:GABC) by 6.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 772,675 shares of the bank’s stock after acquiring an additional 50,206 shares during the period. State Street Corp owned 2.60% of German American Bancorp worth $29,941,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Cerity Partners LLC raised its position in German American Bancorp by 1.1% during the 3rd quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after purchasing an additional 323 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after purchasing an additional 365 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of German American Bancorp by 5.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock worth $799,000 after purchasing an additional 1,097 shares in the last quarter. Rhumbline Advisers increased its position in German American Bancorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock valued at $1,697,000 after buying an additional 1,214 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its stake in German American Bancorp by 2.1% during the 3rd 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 period. Institutional investors and hedge funds own 46.90% of the company’s stock.

Analyst Ratings Changes

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

German American Bancorp Stock Up 0.5 %

GABC opened at $41.21 on Friday. German American Bancorp, Inc. has a 12 month low of $30.26 and a 12 month high of $47.08. The company has a market cap of $1.22 billion, a PE ratio of 14.88 and a beta of 0.63. 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 company has a 50 day moving average of $43.34 and a 200 day moving average of $39.37.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. On average, sell-side analysts expect that German American Bancorp, Inc. will post 2.76 EPS for the current year.

German American Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.62%. German American Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

German American Bancorp 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.