Kentucky Trust Co Purchases New Shares in German American Bancorp, Inc. (NASDAQ:GABC)

Kentucky Trust Co acquired a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,000 shares of the bank’s stock, valued at approximately $362,000.

A number of other large investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in German American Bancorp by 1.1% during the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after buying an additional 323 shares in the last quarter. BNP Paribas Financial Markets grew its stake in German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after buying an additional 365 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. grew its stake in German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock worth $2,419,000 after buying an additional 1,290 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of German American Bancorp by 12.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,090 shares of the bank’s stock valued at $692,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of German American Bancorp in the 3rd quarter valued at approximately $99,000. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GABC. Piper Sandler reduced their price target on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and raised their price target for the company from $41.00 to $48.00 in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised 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 research note on Wednesday, January 29th. Finally, Stephens began coverage on shares of German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. One 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.40.

German American Bancorp Stock Up 2.5 %

Shares of NASDAQ GABC opened at $40.92 on Wednesday. The company has a 50 day simple moving average of $41.03 and a 200 day simple moving average of $40.67. The firm has a market cap of $1.21 billion, a PE ratio of 14.51 and a beta of 0.64. German American Bancorp, Inc. has a 1 year low of $30.66 and a 1 year high of $47.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. On average, research analysts forecast that German American Bancorp, Inc. will post 2.95 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s dividend payout ratio (DPR) is 38.30%.

About German American Bancorp

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.