Jennison Associates LLC Takes $354,000 Position in German American Bancorp, Inc. (GABC)
Jennison Associates LLC purchased a new position in German American Bancorp, Inc. (NASDAQ:GABC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,318 shares of the bank’s stock, valued at approximately $354,000.
Several other institutional investors also recently bought and sold shares of GABC. First Quadrant L P CA bought a new position in shares of German American Bancorp in the second quarter worth $137,000. Smithfield Trust Co. boosted its holdings 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 during the period. Legal & General Group Plc boosted its holdings 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 during the period. Bank of Montreal Can bought a new position in shares of German American Bancorp in the second quarter worth $208,000. Finally, Bank of America Corp DE boosted its holdings 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 during the period. 36.23% of the stock is owned by hedge funds and other institutional investors.
Shares of German American Bancorp, Inc. (NASDAQ:GABC) opened at $35.28 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.88. German American Bancorp, Inc. has a 12-month low of $28.71 and a 12-month high of $39.02. The stock has a market capitalization of $804.84, a price-to-earnings ratio of 22.36 and a beta of 1.12.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. German American Bancorp’s dividend payout ratio (DPR) is presently 33.12%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, ValuEngine downgraded German American Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $39.75.
In other German American Bancorp news, 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 price of $32.35 per share, for a total transaction of $102,873.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 3,221 shares of company stock worth $104,336 in the last quarter. 8.51% of the stock is currently owned by company insiders.
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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