Jane Street Group LLC Has $1.94 Million Position in German American Bancorp, Inc. (NASDAQ:GABC)

Jane Street Group LLC cut its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 32.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 50,130 shares of the bank’s stock after selling 24,583 shares during the period. Jane Street Group LLC’s holdings in German American Bancorp were worth $1,943,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GABC. Dimensional Fund Advisors LP raised its position in German American Bancorp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock worth $39,930,000 after acquiring an additional 14,478 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of German American Bancorp by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 954,536 shares of the bank’s stock worth $36,988,000 after purchasing an additional 32,816 shares during the last quarter. State Street Corp raised its holdings in shares of German American Bancorp by 6.9% in the 3rd quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after purchasing an additional 50,206 shares during the period. German American Bancorp Inc. lifted its stake in German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after purchasing an additional 316,400 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in German American Bancorp by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 202,717 shares of the bank’s stock worth $7,166,000 after purchasing an additional 8,028 shares during the period. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Performance

NASDAQ GABC opened at $40.96 on Wednesday. German American Bancorp, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $47.08. The stock has a market cap of $1.22 billion, a PE ratio of 14.79 and a beta of 0.63. 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 firm’s fifty day moving average price is $43.38 and its two-hundred day moving average price is $39.60.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping 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 return on equity of 11.94% and a net margin of 23.75%. On average, equities analysts expect that German American Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, November 8th. German American Bancorp’s dividend payout ratio (DPR) is currently 38.99%.

Analyst Upgrades and Downgrades

GABC has been the topic of a number of recent analyst reports. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $41.00 to $48.00 in a report on Wednesday, October 30th. Stephens assumed coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their target price on shares of German American Bancorp from $43.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.40.

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.