German American Bancorp., Inc. (GABC) Position Reduced by Bank of America Corp DE

Bank of America Corp DE lessened its stake in German American Bancorp., Inc. (NASDAQ:GABC) by 29.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,808 shares of the bank’s stock after selling 3,634 shares during the quarter. Bank of America Corp DE’s holdings in German American Bancorp. were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GABC. Engineers Gate Manager LP purchased a new position in German American Bancorp. in the 2nd quarter worth about $253,000. Russell Investments Group Ltd. increased its stake in German American Bancorp. by 85.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,753 shares of the bank’s stock worth $782,000 after buying an additional 10,033 shares during the period. First Trust Advisors LP increased its stake in German American Bancorp. by 118.6% in the 2nd quarter. First Trust Advisors LP now owns 58,606 shares of the bank’s stock worth $2,101,000 after buying an additional 31,791 shares during the period. Schwab Charles Investment Management Inc. increased its stake in German American Bancorp. by 5.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,686 shares of the bank’s stock worth $3,897,000 after buying an additional 5,542 shares during the period. Finally, Renaissance Technologies LLC increased its stake in German American Bancorp. by 61.8% in the 2nd quarter. Renaissance Technologies LLC now owns 160,950 shares of the bank’s stock worth $5,770,000 after buying an additional 61,450 shares during the period. 35.38% of the stock is currently owned by institutional investors.

GABC stock opened at $31.15 on Monday. The stock has a market capitalization of $777.47 million, a P/E ratio of 18.65 and a beta of 0.88. German American Bancorp., Inc. has a 12 month low of $30.32 and a 12 month high of $38.65. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87.

German American Bancorp. (NASDAQ:GABC) last posted its quarterly earnings results on Monday, October 29th. The bank reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.01). The company had revenue of $37.51 million during the quarter, compared to analysts’ expectations of $37.29 million. German American Bancorp. had a return on equity of 11.76% and a net margin of 29.91%. On average, equities research analysts expect that German American Bancorp., Inc. will post 2.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Saturday, November 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 8th. German American Bancorp.’s dividend payout ratio (DPR) is 35.93%.

Several research firms recently commented on GABC. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. BidaskClub downgraded shares of German American Bancorp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Finally, ValuEngine downgraded shares of German American Bancorp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. German American Bancorp. has an average rating of “Hold” and a consensus price target of $38.00.

In other German American Bancorp. news, Director Thomas W. Seger bought 2,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were acquired at an average price of $31.25 per share, with a total value of $62,500.00. Following the transaction, the director now owns 2,014 shares of the company’s stock, valued at approximately $62,937.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chris A. Ramsey bought 827 shares of the business’s stock in a transaction on Friday, November 9th. The shares were acquired at an average cost of $31.83 per share, for a total transaction of $26,323.41. Following the transaction, the director now directly owns 18,235 shares in the company, valued at approximately $580,420.05. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,499 shares of company stock worth $360,727 in the last three months. Insiders own 8.51% of the company’s stock.

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German American Bancorp. Profile

German American Bancorp, Inc operates as the bank holding company for German American Bancorp that provides retail and commercial banking services. The company operates through three segments: Core Banking, Trust and Investment Advisory Services, and Insurance Operations. The Core Banking segment accepts various 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.

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Want to see what other hedge funds are holding GABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for German American Bancorp., Inc. (NASDAQ:GABC).

Institutional Ownership by Quarter for German American Bancorp. (NASDAQ:GABC)

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