Rhumbline Advisers Acquires 1,214 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Rhumbline Advisers grew its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,992 shares of the bank’s stock after acquiring an additional 1,214 shares during the quarter. Rhumbline Advisers owned 0.16% of German American Bancorp worth $1,697,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GABC. Charles Schwab Investment Management Inc. boosted its position in German American Bancorp by 2.3% during the fourth 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in German American Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock worth $35,426,000 after acquiring an additional 30,050 shares during the period. PNC Financial Services Group Inc. increased its stake in German American Bancorp by 101.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 23,295 shares of the bank’s stock worth $755,000 after acquiring an additional 11,732 shares during the period. Franklin Resources Inc. increased its stake 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 during the period. Finally, Comerica Bank boosted its holdings in shares of German American Bancorp by 28.3% in the 4th quarter. Comerica Bank now owns 51,785 shares of the bank’s stock valued at $1,678,000 after purchasing an additional 11,424 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors.

German American Bancorp Price Performance

German American Bancorp stock opened at $39.70 on Friday. German American Bancorp, Inc. has a 12 month low of $24.85 and a 12 month high of $42.78. 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 business’s 50 day simple moving average is $39.00 and its 200 day simple moving average is $35.03. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.02 and a beta of 0.62.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. German American Bancorp had a net margin of 24.44% and a return on equity of 12.97%. The business had revenue of $64.89 million for the quarter, compared to analysts’ expectations of $60.20 million. Sell-side analysts forecast that German American Bancorp, Inc. will post 2.7 EPS for the current year.

German American Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Saturday, August 10th were issued a $0.27 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. German American Bancorp’s payout ratio is currently 37.89%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GABC shares. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Hovde Group lifted their target price on German American Bancorp from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, May 31st. Piper Sandler lifted their price objective on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Raymond James lifted their price objective on German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.67.

Insider Transactions at German American Bancorp

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

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.