AQR Capital Management LLC Buys 11,439 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

AQR Capital Management LLC grew its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 180.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,761 shares of the bank’s stock after acquiring an additional 11,439 shares during the quarter. AQR Capital Management LLC owned 0.06% of German American Bancorp worth $628,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GABC. EntryPoint Capital LLC increased its stake in German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after purchasing an additional 1,339 shares in the last quarter. Renaissance Technologies LLC acquired a new position in German American Bancorp during the 2nd quarter worth approximately $207,000. Virtu Financial LLC acquired a new position in German American Bancorp during the 4th quarter worth approximately $251,000. 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 worth $252,000 after acquiring an additional 3,565 shares during the last quarter. Finally, Pettinga Financial Advisors LLC boosted its position in German American Bancorp by 6.5% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after acquiring an additional 443 shares during the last quarter. 46.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on GABC. Raymond James increased their price objective on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler increased their price objective on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.67.

Insider Buying and Selling

In other German American Bancorp news, Director Thomas W. Seger bought 3,000 shares of the 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 completion of the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Thomas W. Seger purchased 3,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane B. Medley bought 710 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $36.37 per share, with a total value of $25,822.70. Following the purchase, the director now owns 4,370 shares in the company, valued at $158,936.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.16% of the stock is owned by insiders.

German American Bancorp Stock Performance

German American Bancorp stock opened at $39.45 on Monday. German American Bancorp, Inc. has a 12-month low of $24.85 and a 12-month high of $42.78. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $38.66 and its two-hundred day moving average price is $35.69. The stock has a market cap of $1.17 billion, a PE ratio of 13.84 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. The firm had revenue of $64.89 million for the quarter, compared to analysts’ expectations of $60.20 million. As a group, analysts expect that German American Bancorp, Inc. will post 2.7 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, August 9th. German American Bancorp’s dividend payout ratio is currently 37.89%.

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.