German American Bancorp, Inc. (NASDAQ:GABC) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 13.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,708,130 shares of the bank’s stock after buying an additional 196,003 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of German American Bancorp worth $67,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of German American Bancorp during the 3rd quarter worth $99,000. Renaissance Technologies LLC purchased a new position in German American Bancorp during the second quarter worth about $207,000. BNP Paribas Financial Markets increased its position in shares of German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock valued at $241,000 after acquiring an additional 365 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of German American Bancorp in the 3rd quarter valued at approximately $247,000. Finally, Pettinga Financial Advisors LLC lifted its holdings in shares of German American Bancorp by 6.5% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after acquiring an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GABC. Stephens assumed coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 target price for the company. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $41.00 to $48.00 in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their target price on German American Bancorp from $43.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.40.

German American Bancorp Stock Up 0.1 %

Shares of NASDAQ GABC opened at $44.48 on Tuesday. The stock has a market cap of $1.32 billion, a P/E ratio of 16.06 and a beta of 0.63. The business’s fifty day simple moving average is $43.08 and its 200-day simple moving average is $39.19. German American Bancorp, Inc. has a 12-month low of $30.26 and a 12-month high of $47.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. As a group, equities analysts predict that German American Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.43%. The ex-dividend date was 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.