Charles Schwab Investment Management Inc. Boosts Stock Position in German American Bancorp, Inc. (NASDAQ:GABC)

Charles Schwab Investment Management Inc. raised its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 954,536 shares of the bank’s stock after buying an additional 32,816 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in German American Bancorp were worth $36,988,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GABC. Renaissance Technologies LLC bought a new stake in German American Bancorp during the 2nd quarter valued at about $207,000. SG Americas Securities LLC bought a new position in German American Bancorp in the 3rd quarter valued at approximately $247,000. Pettinga Financial Advisors LLC lifted its holdings in shares of German American Bancorp by 6.5% during the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after purchasing an additional 443 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of German American Bancorp during the third quarter valued at $346,000. Finally, Principal Financial Group Inc. bought a new position in German American Bancorp during the third quarter valued at approximately $597,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

German American Bancorp Stock Performance

NASDAQ:GABC opened at $44.90 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $41.62 and a two-hundred day simple moving average of $38.25. The firm has a market capitalization of $1.33 billion, a PE ratio of 16.24 and a beta of 0.61. German American Bancorp, Inc. has a 52-week low of $29.61 and a 52-week high of $47.08.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. Analysts forecast that German American Bancorp, Inc. will post 2.76 EPS for the current 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 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, November 8th. German American Bancorp’s dividend payout ratio (DPR) is 38.99%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GABC. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.