Everhart Financial Group Inc. Acquires New Shares in German American Bancorp, Inc. (NASDAQ:GABC)

Everhart Financial Group Inc. purchased a new stake in German American Bancorp, Inc. (NASDAQ:GABC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,914 shares of the bank’s stock, valued at approximately $447,000.

Other large investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in German American Bancorp in the 4th quarter valued at $35,000. Sterling Capital Management LLC lifted its stake in German American Bancorp by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank’s stock worth $37,000 after purchasing an additional 813 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of German American Bancorp by 399.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank’s stock valued at $39,000 after acquiring an additional 775 shares during the period. GAMMA Investing LLC increased its position in shares of German American Bancorp by 2,933.8% in the first quarter. GAMMA Investing LLC now owns 2,063 shares of the bank’s stock valued at $77,000 after acquiring an additional 1,995 shares during the period. Finally, Quantbot Technologies LP lifted its stake in German American Bancorp by 15.2% in the fourth quarter. Quantbot Technologies LP now owns 2,952 shares of the bank’s stock worth $119,000 after acquiring an additional 389 shares during the period. 46.90% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total transaction of $99,468.25. Following the sale, the director now owns 11,673 shares in the company, valued at $461,667.15. This represents a 17.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought a total of 113 shares of company stock worth $4,389 over the last 90 days. 6.16% of the stock is currently owned by insiders.

German American Bancorp Price Performance

Shares of GABC opened at $37.37 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of 13.25 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $47.08. The firm’s 50-day simple moving average is $37.63 and its two-hundred day simple moving average is $39.30.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating 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 firm had revenue of $81.41 million for the quarter, compared to analysts’ expectations of $79.60 million. Analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Saturday, May 10th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, May 9th. German American Bancorp’s payout ratio is 46.77%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, German American Bancorp currently has an average 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.