ProShare Advisors LLC Cuts Position in German American Bancorp, Inc. (NASDAQ:GABC)

ProShare Advisors LLC trimmed its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,755 shares of the bank’s stock after selling 7,725 shares during the period. ProShare Advisors LLC owned 0.60% of German American Bancorp worth $7,190,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Man Group plc purchased a new stake in German American Bancorp during the fourth quarter valued at approximately $212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of German American Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank’s stock worth $652,000 after purchasing an additional 536 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of German American Bancorp by 55.2% during the 4th quarter. Deutsche Bank AG now owns 24,295 shares of the bank’s stock valued at $977,000 after purchasing an additional 8,645 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of German American Bancorp in the 4th quarter worth $35,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of German American Bancorp in the 4th quarter worth $363,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

German American Bancorp Stock Performance

Shares of GABC stock opened at $39.53 on Monday. 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, Inc. has a 12-month low of $31.06 and a 12-month high of $47.08. The business’s 50 day moving average is $37.30 and its two-hundred day moving average is $40.13. The company has a market capitalization of $1.48 billion, a P/E ratio of 14.02 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. The company had revenue of $81.41 million during the quarter, compared to analysts’ expectations of $79.60 million. Analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Saturday, May 10th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, May 9th. German American Bancorp’s dividend payout ratio is presently 46.77%.

Insider Buying and Selling

In other news, Director Diane B. Medley bought 1,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the transaction, the director now directly owns 5,370 shares in the company, valued at $210,557.70. The trade was a 22.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 1,135 shares of company stock worth $44,456. Insiders own 6.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GABC. Piper Sandler decreased their price target on German American Bancorp from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods upped their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. 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 stock. According to MarketBeat.com, German American Bancorp has a consensus rating of “Hold” and an average target price of $45.20.

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.