Victory Capital Management Inc. Trims Position in German American Bancorp, Inc. (NASDAQ:GABC)

Victory Capital Management Inc. trimmed its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 6.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 29,000 shares of the bank’s stock after selling 2,050 shares during the period. Victory Capital Management Inc.’s holdings in German American Bancorp were worth $1,124,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GABC. Mutual of America Capital Management LLC acquired a new stake in German American Bancorp during the second quarter worth about $5,887,000. Hantz Financial Services Inc. purchased a new position in German American Bancorp in the second quarter valued at $1,034,000. Aptus Capital Advisors LLC increased its holdings in German American Bancorp by 23.8% in the third quarter. Aptus Capital Advisors LLC now owns 134,124 shares of the bank’s stock valued at $5,197,000 after buying an additional 25,753 shares in the last quarter. LSV Asset Management boosted its stake in shares of German American Bancorp by 303.3% during the 2nd quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock worth $1,036,000 after acquiring an additional 22,035 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of German American Bancorp during the 3rd quarter worth about $597,000. Hedge funds and other institutional investors own 46.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

German American Bancorp Price Performance

GABC stock opened at $45.68 on Wednesday. German American Bancorp, Inc. has a 1 year low of $27.23 and a 1 year high of $47.08. The firm has a market capitalization of $1.36 billion, a PE ratio of 16.48 and a beta of 0.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $41.19 and a 200-day simple moving average of $37.89.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $62.40 million during the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. Equities research analysts anticipate that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 annualized dividend and a yield of 2.36%. German American Bancorp’s payout ratio is 38.99%.

German American Bancorp Company 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.