Ellsworth Advisors LLC Invests $577,000 in German American Bancorp, Inc. (NASDAQ:GABC)

Ellsworth Advisors LLC bought a new position in German American Bancorp, Inc. (NASDAQ:GABC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,351 shares of the bank’s stock, valued at approximately $577,000.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in German American Bancorp during the third quarter worth approximately $99,000. Renaissance Technologies LLC purchased a new position in German American Bancorp during the second quarter worth approximately $207,000. BNP Paribas Financial Markets boosted its position in German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after purchasing an additional 365 shares in the last quarter. SG Americas Securities LLC purchased a new position in German American Bancorp during the third quarter worth approximately $247,000. Finally, Semanteon Capital Management LP purchased a new position in German American Bancorp during the third quarter worth approximately $346,000. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Price Performance

Shares of German American Bancorp stock opened at $39.75 on Tuesday. German American Bancorp, Inc. has a 12 month low of $30.66 and a 12 month high of $47.08. 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 stock has a market capitalization of $1.18 billion, a P/E ratio of 14.35 and a beta of 0.65. The business has a 50 day simple moving average of $42.59 and a two-hundred day simple moving average of $40.40.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The firm had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. As a group, analysts predict that German American Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were issued a $0.27 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. German American Bancorp’s dividend payout ratio is presently 38.99%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GABC shares. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on German American Bancorp from $43.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens assumed coverage on German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.40.

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.