Insider Buying: German American Bancorp (NASDAQ:GABC) Director Buys 401 Shares

German American Bancorp, Inc. (NASDAQ:GABC) Director Zachary Bawel purchased 401 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $49.89 per share, with a total value of $20,005.89. Following the acquisition, the director directly owned 27,215 shares in the company, valued at $1,357,756.35. This represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

German American Bancorp Price Performance

Shares of NASDAQ GABC traded down $0.60 during midday trading on Wednesday, reaching $49.22. 146,797 shares of the stock traded hands, compared to its average volume of 150,750. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $1.85 billion, a PE ratio of 12.99 and a beta of 0.58. German American Bancorp, Inc. has a one year low of $37.19 and a one year high of $52.23. The company’s 50 day moving average is $49.55 and its 200 day moving average is $45.53.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. German American Bancorp had a net margin of 28.25% and a return on equity of 12.14%. The company had revenue of $99.95 million for the quarter, compared to the consensus estimate of $99.22 million. On average, equities research analysts anticipate that German American Bancorp, Inc. will post 3.86 earnings per share for the current year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a $0.31 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.24 annualized dividend and a yield of 2.5%. German American Bancorp’s dividend payout ratio (DPR) is currently 32.72%.

Analysts Set New Price Targets

GABC has been the subject of several recent analyst reports. Wall Street Zen raised shares of German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of German American Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, September 1st. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up from $51.00) on shares of German American Bancorp in a research note on Thursday, July 30th. Raymond James Financial initiated coverage on shares of German American Bancorp in a report on Wednesday, July 8th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, German American Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Hedge Funds Weigh In On German American Bancorp

Several hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new stake in German American Bancorp in the second quarter worth $593,000. Tidal Investments LLC purchased a new stake in shares of German American Bancorp during the second quarter valued at $624,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of German American Bancorp by 22.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 22,409 shares of the bank’s stock valued at $1,064,000 after purchasing an additional 4,035 shares during the period. Field & Main Bank bought a new position in shares of German American Bancorp in the second quarter worth about $142,000. Finally, Glenview Trust Co bought a new position in shares of German American Bancorp in the second quarter worth about $1,793,000. Institutional investors own 46.90% of the company’s stock.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides a range of banking and financial services to individuals, families, farmers, businesses and other organizations.

Its banking activities include deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, treasury management and other financial services. The company also offers wealth management services, including investment management, trust administration and retirement planning, as well as insurance products through affiliated operations.

German American Bancorp traces its history to the founding of German American Bank in 1910.