Glenview Trust co Sells 400 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Glenview Trust co trimmed its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 5.5% in the fourth quarter, Holdings Channel reports. The firm owned 6,933 shares of the bank’s stock after selling 400 shares during the quarter. Glenview Trust co’s holdings in German American Bancorp were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in German American Bancorp by 13.0% in the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after purchasing an additional 196,003 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in German American Bancorp by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock valued at $40,195,000 after purchasing an additional 44,845 shares in the last quarter. State Street Corp grew its stake in German American Bancorp by 6.9% in the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after purchasing an additional 50,206 shares in the last quarter. Geode Capital Management LLC grew its stake in German American Bancorp by 1.6% in the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock valued at $27,289,000 after purchasing an additional 11,386 shares in the last quarter. Finally, German American Bancorp Inc. grew its stake in German American Bancorp by 160.1% in the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after purchasing an additional 316,400 shares in the last quarter. 46.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Piper Sandler cut their price objective on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, German American Bancorp currently has an average rating of “Hold” and a consensus target price of $46.40.

German American Bancorp Stock Performance

GABC opened at $38.77 on Tuesday. German American Bancorp, Inc. has a 12-month low of $31.06 and a 12-month high of $47.08. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.75 and a beta of 0.60. The business has a 50 day moving average of $39.62 and a 200-day moving average of $40.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. On average, equities research analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a dividend of $0.29 per share. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 2.99%. The ex-dividend date was Monday, February 10th. German American Bancorp’s dividend payout ratio (DPR) is presently 41.13%.

Insider Buying and Selling

In other news, Director Diane B. Medley purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $39.21 per share, with a total value of $39,210.00. Following the acquisition, the director now owns 5,370 shares in the company, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders bought 1,064 shares of company stock valued at $41,764. Insiders own 6.16% of the company’s stock.

German American Bancorp Company 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.