Fisher Asset Management LLC Sells 2,670 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Fisher Asset Management LLC lessened its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,111 shares of the bank’s stock after selling 2,670 shares during the period. Fisher Asset Management LLC’s holdings in German American Bancorp were worth $2,015,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. German American Bancorp Inc. grew its stake 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 valued at $19,918,000 after buying an additional 316,400 shares during the last quarter. Franklin Resources Inc. boosted its holdings in 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 acquiring an additional 196,003 shares during the period. Barclays PLC grew its position in shares of German American Bancorp by 577.6% in 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 last quarter. State Street Corp increased its stake in shares of German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock worth $29,941,000 after purchasing an additional 50,206 shares during the period. Finally, Royce & Associates LP lifted its position in shares of German American Bancorp by 43.3% during the 3rd quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock worth $5,160,000 after purchasing an additional 40,219 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

Insiders Place Their Bets

In related news, Director Diane B. Medley bought 1,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $39.21 per share, with a total value of $39,210.00. Following the acquisition, the director now owns 5,370 shares in the company, valued at approximately $210,557.70. This represents a 22.88 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 1,083 shares of company stock worth $42,607 over the last quarter. Company insiders own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GABC shares. Piper Sandler lowered their target price on 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 objective on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, German American Bancorp currently has an average rating of “Hold” and a consensus target price of $46.40.

German American Bancorp Price Performance

Shares of GABC stock opened at $38.90 on Thursday. German American Bancorp, Inc. has a 12 month low of $31.06 and a 12 month high of $47.08. The company has a market capitalization of $1.15 billion, a P/E ratio of 13.79 and a beta of 0.60. The stock has a 50 day moving average of $39.91 and a two-hundred day moving average of $40.87. 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 posted its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share 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%. As a group, equities analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.98%. The ex-dividend date was Monday, February 10th. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s dividend payout ratio is 41.13%.

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.