Dimensional Fund Advisors LP lifted its position in German American Bancorp, Inc. (NASDAQ:GABC) by 53.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 765,212 shares of the bank’s stock after acquiring an additional 265,851 shares during the period. Dimensional Fund Advisors LP owned about 3.34% of German American Bancorp worth $26,086,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new position in shares of German American Bancorp in the second quarter worth approximately $137,000. Smithfield Trust Co. increased its position in shares of German American Bancorp by 50.0% in the second quarter. Smithfield Trust Co. now owns 4,035 shares of the bank’s stock worth $138,000 after acquiring an additional 1,345 shares in the last quarter. Bank of America Corp DE increased its position in shares of German American Bancorp by 27.8% in the first quarter. Bank of America Corp DE now owns 4,400 shares of the bank’s stock worth $208,000 after acquiring an additional 958 shares in the last quarter. First Financial Corp IN increased its position in shares of German American Bancorp by 49.9% in the second quarter. First Financial Corp IN now owns 4,497 shares of the bank’s stock worth $153,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of German American Bancorp by 56.3% in the second quarter. Legal & General Group Plc now owns 5,314 shares of the bank’s stock worth $181,000 after acquiring an additional 1,914 shares in the last quarter. 36.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Chris A. Ramsey acquired 1,587 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $31.55 per share, with a total value of $50,069.85. Following the completion of the transaction, the director now owns 16,140 shares of the company’s stock, valued at approximately $509,217. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chris A. Ramsey acquired 3,180 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average cost of $32.35 per share, for a total transaction of $102,873.00. The disclosure for this purchase can be found here. Insiders have purchased 5,029 shares of company stock worth $161,641 over the last ninety days. 8.51% of the stock is currently owned by insiders.
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German American Bancorp, Inc. (NASDAQ GABC) opened at $36.03 on Friday. German American Bancorp, Inc. has a 1 year low of $26.67 and a 1 year high of $39.02. The company has a market cap of $826.17, a P/E ratio of 22.95 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 9th. German American Bancorp’s payout ratio is presently 33.12%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of German American Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, October 4th. BidaskClub raised shares of German American Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, ValuEngine downgraded shares of German American Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. German American Bancorp has an average rating of “Hold” and a consensus target price of $39.75.
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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