Symmetry Partners LLC Invests $390,000 in German American Bancorp, Inc. (NASDAQ:GABC)

Symmetry Partners LLC purchased a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,693 shares of the bank’s stock, valued at approximately $390,000.

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

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $38.82 on Thursday. German American Bancorp, Inc. has a 1-year low of $31.06 and a 1-year high of $47.08. The stock has a fifty day simple moving average of $39.64 and a two-hundred day simple moving average of $40.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 13.77 and a beta of 0.60.

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

German American Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a $0.29 dividend. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend 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 Transactions at German American Bancorp

In related news, Director Diane B. Medley purchased 1,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $39.21 per share, with a total value of $39,210.00. Following the completion of the acquisition, the director now directly owns 5,370 shares of the company’s stock, valued at approximately $210,557.70. The trade was a 22.88 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 1,086 shares of company stock valued at $42,621 over the last three months. Company insiders own 6.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GABC shares. Keefe, Bruyette & Woods increased their price objective on German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Piper Sandler reduced their price objective on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, German American Bancorp has an average rating of “Hold” and an average price target of $46.40.

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.