PNC Financial Services Group Inc. Purchases 821 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

PNC Financial Services Group Inc. boosted its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,625 shares of the bank’s stock after purchasing an additional 821 shares during the quarter. PNC Financial Services Group Inc. owned about 0.08% of German American Bancorp worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GABC. Quantbot Technologies LP bought a new position in shares of German American Bancorp in the 3rd quarter worth $99,000. BNP Paribas Financial Markets grew its position in shares of German American Bancorp by 6.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after buying an additional 365 shares during the period. Kentucky Trust Co bought a new stake in shares of German American Bancorp in the 4th quarter valued at about $362,000. Forvis Mazars Wealth Advisors LLC increased its stake in shares of German American Bancorp by 4.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank’s stock valued at $417,000 after acquiring an additional 405 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of German American Bancorp in the 3rd quarter valued at approximately $406,000. 46.90% of the stock is currently owned by institutional investors and hedge funds.

German American Bancorp Trading Up 0.3 %

GABC opened at $38.77 on Tuesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 13.75 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a 12 month low of $31.06 and a 12 month high of $47.08. The firm’s fifty day simple moving average is $39.62 and its 200 day simple moving average is $40.81.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. As a group, research analysts anticipate that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given 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 of this dividend 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 currently 41.13%.

Analyst Ratings Changes

Several equities research analysts have commented on GABC shares. Keefe, Bruyette & Woods upped their target price on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Piper Sandler reduced their target price on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One investment 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.com, the stock has an average rating of “Hold” and a consensus target price of $46.40.

Insider Buying and Selling

In other German American Bancorp news, Director Diane B. Medley purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $39.21 per share, with a total value of $39,210.00. Following the transaction, the director now directly owns 5,370 shares of the company’s stock, valued at $210,557.70. This represents a 22.88 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 1,064 shares of company stock worth $41,764. 6.16% of the stock is owned by insiders.

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.