Baird Financial Group Inc. Acquires 20,413 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Baird Financial Group Inc. grew its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 126.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,501 shares of the bank’s stock after purchasing an additional 20,413 shares during the period. Baird Financial Group Inc. owned approximately 0.12% of German American Bancorp worth $1,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Franklin Resources Inc. raised its position in shares of German American Bancorp by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank’s stock valued at $70,336,000 after purchasing an additional 40,642 shares during the period. Dimensional Fund Advisors LP raised its position in shares of German American Bancorp by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,140,813 shares of the bank’s stock valued at $45,884,000 after purchasing an additional 8,659 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of German American Bancorp by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock valued at $40,195,000 after purchasing an additional 44,845 shares during the period. Royce & Associates LP raised its position in shares of German American Bancorp by 138.2% in the fourth quarter. Royce & Associates LP now owns 317,221 shares of the bank’s stock valued at $12,759,000 after purchasing an additional 184,065 shares during the period. Finally, Northern Trust Corp raised its position in shares of German American Bancorp by 5.0% in the fourth quarter. Northern Trust Corp now owns 277,393 shares of the bank’s stock valued at $11,157,000 after purchasing an additional 13,330 shares during the period. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Price Performance

Shares of NASDAQ:GABC opened at $39.61 on Tuesday. The company has a 50 day moving average of $37.21 and a 200 day moving average of $40.16. The stock has a market cap of $1.48 billion, a P/E ratio of 14.05 and a beta of 0.61. German American Bancorp, Inc. has a 12 month low of $31.06 and a 12 month high of $47.08. 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 (NASDAQ:GABC) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate 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. As a group, sell-side analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, Director Diane B. Medley purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $39.21 per share, with a total value of $39,210.00. Following the purchase, the director now directly owns 5,370 shares in the company, valued at approximately $210,557.70. This represents a 22.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 1,090 shares of company stock valued at $42,697 in the last quarter. Corporate insiders own 6.16% of the company’s stock.

Analysts Set New Price Targets

GABC has been the topic of several research reports. Piper Sandler lowered their price target on shares of German American Bancorp from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, German American Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.20.

German American Bancorp 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.