Russell Investments Group Ltd. Increases Holdings in German American Bancorp, Inc. (GABC)
Russell Investments Group Ltd. raised its position in German American Bancorp, Inc. (NASDAQ:GABC) by 65.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,763 shares of the bank’s stock after acquiring an additional 8,990 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of German American Bancorp worth $776,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in GABC. First Trust Advisors LP grew its stake in 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 acquiring an additional 2,477 shares during the period. US Bancorp DE grew its stake in German American Bancorp by 0.4% in the first quarter. US Bancorp DE now owns 9,055 shares of the bank’s stock valued at $429,000 after acquiring an additional 38 shares during the period. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 4,849 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in German American Bancorp in the first quarter valued at approximately $450,000. Finally, SG Americas Securities LLC acquired a new stake in German American Bancorp in the first quarter valued at approximately $238,000. 35.75% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on GABC shares. Zacks Investment Research raised German American Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, May 31st. BidaskClub upgraded German American Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine lowered German American Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Hilliard Lyons upgraded 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. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.00.
In related news, Director Chris A. Ramsey purchased 1,587 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $31.55 per share, for a total transaction of $50,069.85. Following the purchase, the director now directly owns 16,140 shares of the company’s stock, valued at approximately $509,217. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chris A. Ramsey purchased 3,180 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was bought at an average price of $32.35 per share, for a total transaction of $102,873.00. The disclosure for this purchase can be found here. Insiders purchased a total of 5,566 shares of company stock worth $180,195 in the last 90 days. 8.51% of the stock is currently owned by company insiders.
German American Bancorp, Inc. (NASDAQ GABC) traded up 1.97% on Friday, hitting $34.17. The stock had a trading volume of 94,251 shares. German American Bancorp, Inc. has a 1-year low of $24.74 and a 1-year high of $36.31. The company has a market cap of $783.48 million, a P/E ratio of 19.74 and a beta of 1.15. The stock has a 50 day moving average price of $32.81 and a 200 day moving average price of $32.44.
German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, July 31st. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $32.61 million for the quarter, compared to the consensus estimate of $33.20 million. German American Bancorp had a return on equity of 11.60% and a net margin of 28.12%. On average, equities research analysts expect that German American Bancorp, Inc. will post $1.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, August 20th. Investors of record on Thursday, August 10th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.52%. German American Bancorp’s payout ratio is currently 32.57%.
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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