Wedge Capital Management L L P NC Sells 638 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Wedge Capital Management L L P NC reduced its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,971 shares of the bank’s stock after selling 638 shares during the quarter. Wedge Capital Management L L P NC’s holdings in German American Bancorp were worth $3,216,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of German American Bancorp by 154.6% during the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank’s stock valued at $2,358,000 after buying an additional 36,954 shares during the last quarter. Principal Financial Group Inc. acquired a new position in German American Bancorp in the 3rd quarter valued at approximately $597,000. Franklin Resources Inc. lifted its position in shares of German American Bancorp by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock worth $67,557,000 after acquiring an additional 196,003 shares during the period. Geode Capital Management LLC grew its holdings in shares of German American Bancorp by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock worth $27,289,000 after purchasing an additional 11,386 shares in the last quarter. Finally, Barclays PLC increased its position in shares of German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock valued at $2,684,000 after purchasing an additional 59,048 shares during the period. 46.90% of the stock is owned by institutional investors.

German American Bancorp Trading Up 0.7 %

Shares of GABC stock opened at $39.75 on Monday. The company has a market capitalization of $1.18 billion, a P/E ratio of 14.35 and a beta of 0.65. German American Bancorp, Inc. has a 12-month low of $30.66 and a 12-month high of $47.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $42.71 and a 200 day moving average price of $40.36.

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

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp’s payout ratio is presently 38.99%.

Wall Street Analysts Forecast Growth

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

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.