Deprince Race & Zollo Inc. Lowers Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Deprince Race & Zollo Inc. lowered its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 1.4% during the second quarter, Holdings Channel.com reports. The firm owned 154,522 shares of the bank’s stock after selling 2,258 shares during the period. Deprince Race & Zollo Inc.’s holdings in German American Bancorp were worth $5,462,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of German American Bancorp by 180.9% in the 2nd quarter. AQR Capital Management LLC now owns 17,761 shares of the bank’s stock worth $628,000 after acquiring an additional 11,439 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in German American Bancorp during the second quarter worth $5,887,000. Renaissance Technologies LLC purchased a new position in shares of German American Bancorp during the second quarter worth $207,000. Dimensional Fund Advisors LP boosted its position in shares of German American Bancorp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock worth $39,930,000 after buying an additional 14,478 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of German American Bancorp by 15.5% in the second quarter. American Century Companies Inc. now owns 89,942 shares of the bank’s stock valued at $3,179,000 after buying an additional 12,078 shares in the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at German American Bancorp

In other German American Bancorp news, Director Thomas W. Seger bought 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, with a total value of $110,400.00. Following the completion of the acquisition, the director now directly owns 484,342 shares of the company’s stock, valued at approximately $17,823,785.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other German American Bancorp news, Director Thomas W. Seger bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Diane B. Medley purchased 710 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought 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 of the company’s stock, valued at $158,936.90. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,078 shares of company stock valued at $150,203. Insiders own 6.16% of the company’s stock.

German American Bancorp Price Performance

GABC stock opened at $38.51 on Friday. The business’s 50-day moving average is $39.02 and its two-hundred day moving average is $35.22. 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 market capitalization of $1.14 billion, a P/E ratio of 13.51 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 released its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $64.89 million for the quarter, compared to analyst estimates of $60.20 million. Analysts anticipate that German American Bancorp, Inc. will post 2.7 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Saturday, August 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.80%. German American Bancorp’s payout ratio is 37.89%.

Analyst Ratings Changes

A number of equities analysts recently commented on GABC shares. Hovde Group raised their target price on German American Bancorp from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, May 31st. Piper Sandler increased their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Raymond James lifted their price objective on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.67.

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.