Creative Planning Grows Stock Position in German American Bancorp, Inc. (NASDAQ:GABC)

Creative Planning raised its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 42.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,321 shares of the bank’s stock after acquiring an additional 4,840 shares during the quarter. Creative Planning’s holdings in German American Bancorp were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. EntryPoint Capital LLC boosted its position in German American Bancorp by 186.2% during the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after buying an additional 1,339 shares during the period. Renaissance Technologies LLC purchased a new position in shares of German American Bancorp in the second quarter worth $207,000. SG Americas Securities LLC bought a new stake in German American Bancorp during the 3rd quarter valued at $247,000. LSV Asset Management boosted its position in German American Bancorp by 96.4% during the 1st quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock valued at $252,000 after buying an additional 3,565 shares during the period. Finally, Pettinga Financial Advisors LLC increased its position in shares of German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after acquiring an additional 443 shares during the period. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Up 0.7 %

NASDAQ:GABC opened at $40.62 on Tuesday. 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’s 50-day moving average price is $39.36 and its 200-day moving average price is $36.46. The company has a market capitalization of $1.21 billion, a PE ratio of 14.70 and a beta of 0.61. German American Bancorp, Inc. has a 1-year low of $27.23 and a 1-year high of $42.78.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a return on equity of 12.27% and a net margin of 23.75%. On average, equities analysts predict that German American Bancorp, Inc. will post 2.71 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, November 8th. German American Bancorp’s dividend payout ratio is presently 38.99%.

Insider Buying and Selling

In other news, Director Thomas W. Seger acquired 3,000 shares of German American Bancorp stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now owns 484,342 shares in the company, valued at $17,823,785.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GABC shares. StockNews.com cut German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Raymond James lifted their price objective on German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler upped their target price on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Stephens began coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Hovde Group raised shares of German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.25.

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.