SG Americas Securities LLC Purchases New Stake in German American Bancorp, Inc. (NASDAQ:GABC)

SG Americas Securities LLC acquired a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,367 shares of the bank’s stock, valued at approximately $142,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GABC. L.M. Kohn & Company acquired a new position in German American Bancorp during the third quarter worth $15,429,000. BlackRock Inc. raised its holdings in shares of German American Bancorp by 10.9% in the second quarter. BlackRock Inc. now owns 2,405,961 shares of the bank’s stock worth $65,394,000 after acquiring an additional 235,606 shares during the last quarter. Vanguard Group Inc. grew its position in shares of German American Bancorp by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,328,941 shares of the bank’s stock valued at $50,486,000 after purchasing an additional 108,035 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of German American Bancorp by 26.0% in the first quarter. The Manufacturers Life Insurance Company now owns 494,324 shares of the bank’s stock valued at $18,779,000 after purchasing an additional 102,098 shares during the period. Finally, Money Concepts Capital Corp grew its position in shares of German American Bancorp by 1,864.2% in the fourth quarter. Money Concepts Capital Corp now owns 58,298 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 55,330 shares during the period. 46.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at German American Bancorp

In related news, Director Diane B. Medley purchased 1,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $33.64 per share, for a total transaction of $33,640.00. Following the transaction, the director now owns 3,660 shares of the company’s stock, valued at $123,122.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

GABC has been the subject of a number of research reports. Raymond James boosted their price target on German American Bancorp from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler boosted their price target on German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st.

German American Bancorp Trading Down 1.6 %

NASDAQ:GABC opened at $31.41 on Wednesday. The business’s 50-day simple moving average is $32.63 and its 200 day simple moving average is $30.99. German American Bancorp, Inc. has a one year low of $24.85 and a one year high of $34.96. The stock has a market cap of $929.11 million, a price-to-earnings ratio of 10.76 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.79.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. German American Bancorp had a return on equity of 14.26% and a net margin of 27.10%. The firm had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $61.25 million. As a group, sell-side analysts predict that German American Bancorp, Inc. will post 2.56 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Saturday, February 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from German American Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 8th. German American Bancorp’s dividend payout ratio is presently 36.99%.

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.