Barclays PLC Raises Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Barclays PLC grew its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 577.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 69,271 shares of the bank’s stock after buying an additional 59,048 shares during the quarter. Barclays PLC owned 0.23% of German American Bancorp worth $2,684,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in German American Bancorp in the third quarter worth approximately $597,000. LSV Asset Management lifted its position in shares of German American Bancorp by 303.3% during the 2nd quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock worth $1,036,000 after purchasing an additional 22,035 shares during the last quarter. German American Bancorp Inc. grew its stake in shares of German American Bancorp by 160.1% during the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after purchasing an additional 316,400 shares in the last quarter. State Street Corp increased its holdings in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after buying an additional 50,206 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new stake in German American Bancorp in the third quarter valued at $484,000. 46.90% of the stock is owned by institutional investors and hedge funds.

German American Bancorp Stock Up 0.6 %

Shares of NASDAQ GABC opened at $40.96 on Wednesday. The stock has a market cap of $1.22 billion, a PE ratio of 14.79 and a beta of 0.63. German American Bancorp, Inc. has a 52-week low of $30.26 and a 52-week high of $47.08. The business has a 50-day moving average price of $43.38 and a 200 day moving average price of $39.60. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. Equities research analysts forecast that German American Bancorp, Inc. will post 2.76 earnings per share for the current year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were paid a $0.27 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a yield of 2.64%. German American Bancorp’s dividend payout ratio is presently 38.99%.

Analysts Set New Price Targets

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

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.