Deutsche Bank AG bought a new stake in German American Bancorp, Inc. (NASDAQ:GABC – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 38,661 shares of the bank’s stock, valued at approximately $1,835,000.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of German American Bancorp by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,281,704 shares of the bank’s stock valued at $89,397,000 after acquiring an additional 90,203 shares during the period. Franklin Resources Inc. increased its position in German American Bancorp by 3.6% in the third quarter. Franklin Resources Inc. now owns 1,847,234 shares of the bank’s stock worth $72,541,000 after purchasing an additional 64,338 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in German American Bancorp by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,414,363 shares of the bank’s stock worth $55,415,000 after purchasing an additional 23,644 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in German American Bancorp by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank’s stock worth $50,982,000 after purchasing an additional 31,627 shares during the last quarter. Finally, German American Bancorp Inc. lifted its position in German American Bancorp by 1.3% during the 1st quarter. German American Bancorp Inc. now owns 966,872 shares of the bank’s stock valued at $40,406,000 after purchasing an additional 12,585 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.
German American Bancorp Price Performance
GABC stock opened at $49.92 on Friday. The stock has a 50-day moving average price of $48.94 and a two-hundred day moving average price of $44.97. German American Bancorp, Inc. has a 1 year low of $37.19 and a 1 year high of $52.23. The stock has a market cap of $1.88 billion, a PE ratio of 13.17 and a beta of 0.58. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14.
German American Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, August 10th. This represents a $1.24 annualized dividend and a yield of 2.5%. German American Bancorp’s dividend payout ratio is presently 32.72%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods increased their price objective on shares of German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of German American Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Finally, Raymond James Financial began coverage on shares of German American Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.
Check Out Our Latest Analysis on German American Bancorp
German American Bancorp Company Profile
German American Bancorp, Inc operates as a bank holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, it delivers a range of community banking services tailored to individuals, small-to-medium enterprises and agricultural clients. The company’s core offerings include traditional deposit accounts—such as checking, savings and certificates of deposit—alongside residential mortgage and home equity lending products.
On the commercial side, German American Bancorp provides a variety of financing solutions, including term loans, lines of credit and commercial real estate financing.
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