State Street Corp Buys 50,206 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

State Street Corp lifted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 6.9% in the third quarter, HoldingsChannel.com reports. The fund owned 772,675 shares of the bank’s stock after acquiring an additional 50,206 shares during the quarter. State Street Corp’s holdings in German American Bancorp were worth $29,941,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new position in shares of German American Bancorp during the 3rd quarter valued at about $597,000. LSV Asset Management grew its holdings in shares of German American Bancorp by 303.3% during the 2nd quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock valued at $1,036,000 after purchasing an additional 22,035 shares during the last quarter. German American Bancorp Inc. raised its position in German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock worth $19,918,000 after purchasing an additional 316,400 shares during the period. Martingale Asset Management L P purchased a new position in shares of German American Bancorp in the third quarter worth $484,000. Finally, Mutual of America Capital Management LLC bought a new stake in German American Bancorp during the 2nd quarter valued at $5,887,000. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Up 0.5 %

German American Bancorp stock opened at $41.21 on Friday. German American Bancorp, Inc. has a 12 month low of $30.26 and a 12 month high of $47.08. The stock has a fifty day simple moving average of $43.34 and a two-hundred day simple moving average of $39.37. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 14.88 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

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

German American Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, November 8th. German American Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

Analyst Upgrades and Downgrades

GABC has been the subject of a number of analyst reports. Stephens began coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price for the company. Keefe, Bruyette & Woods boosted their price objective on shares of German American Bancorp from $43.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $41.00 to $48.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.40.

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.