Royce & Associates LP Increases Stake in German American Bancorp, Inc. (NASDAQ:GABC)

Royce & Associates LP raised its position in German American Bancorp, Inc. (NASDAQ:GABC) by 43.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 133,156 shares of the bank’s stock after acquiring an additional 40,219 shares during the period. Royce & Associates LP owned approximately 0.45% of German American Bancorp worth $5,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kennedy Capital Management LLC acquired a new stake in German American Bancorp in the first quarter valued at about $6,828,000. Mutual of America Capital Management LLC purchased a new stake in shares of German American Bancorp in the second quarter valued at approximately $5,887,000. Hantz Financial Services Inc. acquired a new position in German American Bancorp during the second quarter worth $1,034,000. Aptus Capital Advisors LLC raised its position in German American Bancorp by 23.8% in the third quarter. Aptus Capital Advisors LLC now owns 134,124 shares of the bank’s stock worth $5,197,000 after acquiring an additional 25,753 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in German American Bancorp by 303.3% in the second quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock valued at $1,036,000 after acquiring an additional 22,035 shares during the period. Hedge funds and other institutional investors own 46.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. Stephens initiated coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price on the stock. Piper Sandler lifted their target price on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James boosted their price objective on shares of German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.25.

German American Bancorp Stock Performance

NASDAQ:GABC opened at $45.43 on Tuesday. The stock has a market cap of $1.35 billion, a P/E ratio of 16.40 and a beta of 0.61. German American Bancorp, Inc. has a 1-year low of $27.23 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.83. The firm has a 50-day moving average of $40.53 and a two-hundred day moving average of $37.43.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. On average, research analysts expect that German American Bancorp, Inc. will post 2.74 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 8th. German American Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

German American Bancorp Profile

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.