Charles Schwab Investment Management Inc. Acquires 44,845 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Charles Schwab Investment Management Inc. raised its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 4.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 999,381 shares of the bank’s stock after purchasing an additional 44,845 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.37% of German American Bancorp worth $40,195,000 as of its most recent SEC filing.

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

German American Bancorp Stock Performance

NASDAQ GABC opened at $38.66 on Friday. The company has a market capitalization of $1.45 billion, a PE ratio of 13.71 and a beta of 0.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp, Inc. has a 52-week low of $31.06 and a 52-week high of $47.08. The company has a 50-day simple moving average of $39.62 and a 200 day simple moving average of $40.81.

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

German American Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s dividend payout ratio is currently 41.13%.

Insider Transactions at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 1,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the transaction, the director now directly owns 5,370 shares in the company, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders bought 1,064 shares of company stock worth $41,764. 6.16% of the stock is owned by company insiders.

Analyst Ratings Changes

GABC has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Piper Sandler cut their target price on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.40.

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.