Intech Investment Management LLC Makes New $489,000 Investment in German American Bancorp, Inc. (NASDAQ:GABC)

Intech Investment Management LLC purchased a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,162 shares of the bank’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new position in shares of German American Bancorp in the 3rd quarter valued at $597,000. Charles Schwab Investment Management Inc. raised its position in German American Bancorp by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock valued at $36,988,000 after purchasing an additional 32,816 shares during the period. Cerity Partners LLC lifted its stake in shares of German American Bancorp by 1.1% during the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after purchasing an additional 323 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of German American Bancorp in the third quarter worth about $99,000. Finally, BNP Paribas Financial Markets grew its stake in shares of German American Bancorp by 6.2% in the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after buying an additional 365 shares in the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $38.59 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a fifty-two week low of $31.06 and a fifty-two week high of $47.08. The business has a 50 day moving average price of $39.67 and a two-hundred day moving average price of $40.77. The firm has a market cap of $1.44 billion, a PE ratio of 13.68 and a beta of 0.60.

German American Bancorp (NASDAQ:GABC) last released 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%. Sell-side analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Piper Sandler reduced their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One investment 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.40.

Insider Transactions at German American Bancorp

In other news, Director Diane B. Medley bought 1,000 shares of German American Bancorp stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $39.21 per share, with a total value of $39,210.00. Following the acquisition, the director now directly owns 5,370 shares in the company, valued at approximately $210,557.70. This represents a 22.88 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 1,086 shares of company stock valued at $42,621. Insiders own 6.16% of the company’s stock.

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.