Glenview Trust Co Purchases New Position in German American Bancorp, Inc. $GABC

Glenview Trust Co purchased a new position in German American Bancorp, Inc. (NASDAQ:GABC) in the second quarter, HoldingsChannel reports. The fund purchased 37,770 shares of the bank’s stock, valued at approximately $1,793,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in German American Bancorp by 161.6% during the first quarter. AQR Capital Management LLC now owns 50,971 shares of the bank’s stock valued at $1,911,000 after buying an additional 31,486 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of German American Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,932 shares of the bank’s stock valued at $635,000 after buying an additional 711 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of German American Bancorp by 9.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,370 shares of the bank’s stock worth $2,076,000 after purchasing an additional 4,907 shares in the last quarter. New York State Common Retirement Fund raised its position in German American Bancorp by 26.0% in the 2nd quarter. New York State Common Retirement Fund now owns 12,587 shares of the bank’s stock worth $485,000 after buying an additional 2,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in German American Bancorp by 6.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 23,630 shares of the bank’s stock valued at $910,000 after acquiring an additional 1,442 shares during the period. Hedge funds and other institutional investors own 46.90% of the company’s stock.

Wall Street Analyst Weigh In

GABC has been the topic of several analyst reports. Weiss Ratings upgraded shares of German American Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Keefe, Bruyette & Woods increased their target price on shares of German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $60.00 target price (up from $51.00) on shares of German American Bancorp in a research note on Thursday, July 30th. Raymond James Financial started coverage on shares of German American Bancorp in a report on Wednesday, July 8th. They set a “hold” rating on the stock. Finally, Wall Street Zen upgraded shares of German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, German American Bancorp presently has an average rating of “Moderate Buy” and an average target price of $53.33.

German American Bancorp Price Performance

Shares of German American Bancorp stock opened at $49.92 on Friday. The stock has a 50 day moving average of $48.94 and a 200 day moving average of $44.97. German American Bancorp, Inc. has a 12 month low of $37.19 and a 12 month high of $52.23. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.88 billion, a PE ratio of 13.17 and a beta of 0.58.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate 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 $98.02 million for the quarter, compared to analysts’ expectations of $99.22 million. On average, research analysts expect that German American Bancorp, Inc. will post 3.86 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.31 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.5%. German American Bancorp’s payout ratio is 32.72%.

About German American Bancorp

German American Bancorp, Inc operates as a bank holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, it delivers a range of community banking services tailored to individuals, small-to-medium enterprises and agricultural clients. The company’s core offerings include traditional deposit accounts—such as checking, savings and certificates of deposit—alongside residential mortgage and home equity lending products.

On the commercial side, German American Bancorp provides a variety of financing solutions, including term loans, lines of credit and commercial real estate financing.