AlphaQuest LLC Invests $318,000 in German American Bancorp, Inc. (NASDAQ:GABC)

AlphaQuest LLC purchased a new stake in German American Bancorp, Inc. (NASDAQ:GABC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,915 shares of the bank’s stock, valued at approximately $318,000.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in German American Bancorp by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 23,625 shares of the bank’s stock valued at $950,000 after buying an additional 821 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of German American Bancorp by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock valued at $40,195,000 after acquiring an additional 44,845 shares during the period. Mutual of America Capital Management LLC grew its stake in German American Bancorp by 17.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 194,425 shares of the bank’s stock valued at $7,820,000 after acquiring an additional 28,540 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in German American Bancorp by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 196,347 shares of the bank’s stock worth $7,897,000 after acquiring an additional 20,289 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC lifted its stake in German American Bancorp by 4.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank’s stock worth $417,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GABC shares. Piper Sandler decreased their price target on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.40.

German American Bancorp Price Performance

Shares of NASDAQ:GABC opened at $38.66 on Friday. The company’s fifty day moving average price is $39.62 and its 200-day moving average price is $40.80. 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 firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.71 and a beta of 0.60. German American Bancorp, Inc. has a one year low of $31.06 and a one year high of $47.08.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. On average, equities research analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.00%. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 10th. German American Bancorp’s dividend payout ratio (DPR) is currently 41.13%.

Insider Buying and Selling

In other news, Director Diane B. Medley bought 1,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the acquisition, the director now owns 5,370 shares of the company’s stock, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders bought 1,083 shares of company stock worth $42,607 in the last quarter. 6.16% of the stock is owned by insiders.

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.