Geode Capital Management LLC Acquires 8,055 Shares of German American Bancorp, Inc. (GABC)

Geode Capital Management LLC raised its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 7.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 115,711 shares of the bank’s stock after buying an additional 8,055 shares during the period. Geode Capital Management LLC’s holdings in German American Bancorp were worth $5,477,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GABC. Vanguard Group Inc. boosted its position in shares of German American Bancorp by 9.2% in the first quarter. Vanguard Group Inc. now owns 552,008 shares of the bank’s stock valued at $26,132,000 after buying an additional 46,631 shares during the last quarter. John W. Rosenthal Capital Management Inc. boosted its position in shares of German American Bancorp by 4.5% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 97,478 shares of the bank’s stock valued at $4,615,000 after buying an additional 4,175 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of German American Bancorp by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 86,367 shares of the bank’s stock valued at $4,088,000 after buying an additional 4,849 shares during the last quarter. First Trust Advisors LP boosted its position in shares of German American Bancorp by 9.6% in the first quarter. First Trust Advisors LP now owns 28,245 shares of the bank’s stock valued at $1,337,000 after buying an additional 2,477 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of German American Bancorp by 4.7% in the first quarter. Teachers Advisors LLC now owns 24,032 shares of the bank’s stock valued at $1,138,000 after buying an additional 1,069 shares during the last quarter. Institutional investors own 22.95% of the company’s stock.

German American Bancorp, Inc. (NASDAQ GABC) traded up 0.19% during mid-day trading on Friday, hitting $32.09. 4,047 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $34.17 and its 200-day moving average price is $32.45. The stock has a market cap of $735.79 million, a PE ratio of 18.54 and a beta of 1.16. German American Bancorp, Inc. has a one year low of $22.87 and a one year high of $36.31.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, July 31st. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $32.61 million during the quarter, compared to the consensus estimate of $33.20 million. German American Bancorp had a net margin of 28.12% and a return on equity of 11.60%. On average, analysts forecast that German American Bancorp, Inc. will post $1.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, August 20th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.52 annualized dividend and a yield of 1.62%. German American Bancorp’s dividend payout ratio (DPR) is presently 32.57%.

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Several research analysts have issued reports on GABC shares. Hilliard Lyons upgraded shares of German American Bancorp from an “underperform” rating to a “neutral” rating and set a $33.00 target price on the stock in a report on Thursday, May 25th. Zacks Investment Research cut shares of German American Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub cut shares of German American Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Sandler O’Neill cut shares of German American Bancorp from a “buy” rating to a “hold” rating and increased their target price for the stock from $33.00 to $36.00 in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $38.00.

German American Bancorp Company Profile

German American Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. Its segments are core banking, trust and investment advisory services, insurance, and other.

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Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

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