German American Bancorp, Inc. (NASDAQ:GABC) Short Interest Up 6.1% in September

German American Bancorp, Inc. (NASDAQ:GABC) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,400,000 shares, a growth of 6.1% from the September 15th total of 1,320,000 shares. Based on an average trading volume of 101,700 shares, the short-interest ratio is presently 13.8 days.

German American Bancorp Stock Performance

Shares of NASDAQ GABC traded up $0.17 during mid-day trading on Thursday, reaching $41.13. 109,647 shares of the company were exchanged, compared to its average volume of 105,250. German American Bancorp has a twelve month low of $24.85 and a twelve month high of $42.78. The stock has a market capitalization of $1.22 billion, a P/E ratio of 14.28 and a beta of 0.61. The company’s 50-day simple moving average is $38.85 and its 200-day simple moving average is $35.80. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.24.

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

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Friday, August 9th. German American Bancorp’s dividend payout ratio is 37.89%.

Wall Street Analyst Weigh In

A number of analysts have commented on GABC shares. StockNews.com cut shares of German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Piper Sandler raised their target price on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Raymond James raised their target price on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Stephens assumed coverage on shares of German American Bancorp in a research note on Tuesday. They set an “overweight” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.75.

Insider Transactions at German American Bancorp

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

Hedge Funds Weigh In On German American Bancorp

A number of hedge funds have recently bought and sold shares of GABC. EntryPoint Capital LLC increased its position in German American Bancorp by 186.2% during the first quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after acquiring an additional 1,339 shares during the period. Renaissance Technologies LLC bought a new stake in shares of German American Bancorp during the 2nd quarter worth approximately $207,000. SG Americas Securities LLC acquired a new stake in shares of German American Bancorp during the 3rd quarter worth approximately $247,000. Virtu Financial LLC acquired a new stake in shares of German American Bancorp during the 4th quarter worth approximately $251,000. Finally, LSV Asset Management raised its position in German American Bancorp by 96.4% during the first quarter. LSV Asset Management now owns 7,265 shares of the bank’s stock valued at $252,000 after purchasing an additional 3,565 shares in the last quarter. 46.90% of the stock is owned by institutional investors.

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.