German American Bancorp, Inc. (NASDAQ:GABC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 4.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 178,755 shares of the bank’s stock after selling 7,725 shares during the period. ProShare Advisors LLC’s holdings in German American Bancorp were worth $7,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Man Group plc purchased a new stake in German American Bancorp during the fourth quarter worth about $212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in German American Bancorp by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank’s stock worth $652,000 after buying an additional 536 shares during the period. Deutsche Bank AG lifted its holdings in German American Bancorp by 55.2% during the 4th quarter. Deutsche Bank AG now owns 24,295 shares of the bank’s stock worth $977,000 after buying an additional 8,645 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in German American Bancorp during the 4th quarter worth approximately $35,000. Finally, Balyasny Asset Management L.P. purchased a new position in German American Bancorp in the 4th quarter valued at approximately $363,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GABC. Piper Sandler cut their price objective on German American Bancorp from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective 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 investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.20.

German American Bancorp Stock Down 0.9%

German American Bancorp stock opened at $39.53 on Monday. The stock’s fifty day moving average is $37.30 and its two-hundred day moving average is $40.13. The stock has a market cap of $1.48 billion, a PE ratio of 14.02 and a beta of 0.61. German American Bancorp, Inc. has a 1-year low of $31.06 and a 1-year 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.

German American Bancorp (NASDAQ:GABC) last posted its earnings results on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. The firm had revenue of $81.41 million during the quarter, compared to analysts’ expectations of $79.60 million. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. On average, sell-side analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Saturday, May 10th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 9th. This represents a $1.16 annualized dividend and a dividend yield of 2.93%. German American Bancorp’s dividend payout ratio is presently 46.77%.

Insider Activity

In other news, Director Diane B. Medley bought 1,000 shares of German American Bancorp stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $39.21 per share, with a total value of $39,210.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders purchased 1,135 shares of company stock worth $44,456. Corporate insiders own 6.16% of the company’s stock.

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.