Intech Investment Management LLC Invests $489,000 in German American Bancorp, Inc. (NASDAQ:GABC)

Intech Investment Management LLC acquired a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,162 shares of the bank’s stock, valued at approximately $489,000.

Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of German American Bancorp by 13.0% during the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after purchasing an additional 196,003 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in German American Bancorp by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock valued at $40,195,000 after purchasing an additional 44,845 shares during the period. State Street Corp grew its stake in German American Bancorp by 6.9% during the 3rd quarter. State Street Corp now owns 772,675 shares of the bank’s stock worth $29,941,000 after buying an additional 50,206 shares during the last quarter. Geode Capital Management LLC increased its position in German American Bancorp by 1.6% in the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock worth $27,289,000 after buying an additional 11,386 shares during the period. Finally, Royce & Associates LP lifted its stake in German American Bancorp by 138.2% in the fourth quarter. Royce & Associates LP now owns 317,221 shares of the bank’s stock valued at $12,759,000 after buying an additional 184,065 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

Insider Activity

In other news, Director Diane B. Medley acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the acquisition, the director now directly owns 5,370 shares in the company, valued at $210,557.70. This represents a 22.88 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have bought 1,086 shares of company stock worth $42,621. 6.16% of the stock is owned by company insiders.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $38.59 on Tuesday. The stock has a market cap of $1.44 billion, a P/E ratio of 13.68 and a beta of 0.60. The firm’s 50-day simple moving average is $39.67 and its 200 day simple moving average is $40.77. German American Bancorp, Inc. has a fifty-two week low of $31.06 and a fifty-two week 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.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. Equities analysts expect 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. Shareholders of record on Monday, February 10th were paid a dividend of $0.29 per share. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Monday, February 10th. German American Bancorp’s dividend payout ratio (DPR) is presently 41.13%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.40.

German American Bancorp Company 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.