LSV Asset Management Boosts Stake in German American Bancorp, Inc. (NASDAQ:GABC)

LSV Asset Management raised its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 303.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,300 shares of the bank’s stock after acquiring an additional 22,035 shares during the period. LSV Asset Management’s holdings in German American Bancorp were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Pettinga Financial Advisors LLC raised its holdings in German American Bancorp by 6.5% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after acquiring an additional 443 shares during the last quarter. Chatham Capital Group Inc. raised its holdings in German American Bancorp by 1.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock valued at $1,779,000 after acquiring an additional 840 shares during the last quarter. Rhumbline Advisers raised its holdings in German American Bancorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock valued at $1,697,000 after acquiring an additional 1,214 shares during the last quarter. EntryPoint Capital LLC raised its holdings in German American Bancorp by 186.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in German American Bancorp by 20.6% in the 1st quarter. Diversified Trust Co now owns 12,002 shares of the bank’s stock valued at $416,000 after acquiring an additional 2,050 shares during the last quarter. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other German American Bancorp news, Director Thomas W. Seger acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $36.80 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other German American Bancorp news, Director Diane B. Medley acquired 710 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the purchase, the director now directly owns 4,370 shares in the company, valued at $158,936.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas W. Seger acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,104 shares of company stock worth $151,040 over the last quarter. 6.16% of the stock is owned by company insiders.

Analyst Ratings Changes

GABC has been the subject of a number of research analyst reports. Hovde Group upped their price objective 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. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler increased their price target on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James increased their price target on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.67.

German American Bancorp Stock Performance

NASDAQ:GABC opened at $38.47 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day moving average of $38.50 and a two-hundred day moving average of $34.73. The stock has a market cap of $1.14 billion, a P/E ratio of 13.50 and a beta of 0.62. German American Bancorp, Inc. has a 1-year low of $24.85 and a 1-year high of $42.78.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.69 EPS for the quarter, topping the consensus estimate 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. On average, research analysts expect that German American Bancorp, Inc. will post 2.7 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.08 annualized dividend and a yield of 2.81%. German American Bancorp’s dividend payout ratio (DPR) is 37.89%.

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.