Citadel Advisors LLC acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,173 shares of the bank’s stock, valued at approximately $551,000. Citadel Advisors LLC owned 0.07% of German American Bancorp as of its most recent SEC filing.

Several other large investors have also modified their holdings of GABC. First Trust Advisors LP lifted its stake in shares of German American Bancorp by 9.6% in the 1st quarter. First Trust Advisors LP now owns 28,245 shares of the bank’s stock worth $1,337,000 after purchasing an additional 2,477 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of German American Bancorp by 5.9% in the 1st quarter. Bank of New York Mellon Corp now owns 86,367 shares of the bank’s stock worth $4,088,000 after purchasing an additional 4,849 shares during the period. SG Americas Securities LLC bought a new position in shares of German American Bancorp in the 1st quarter worth approximately $238,000. Victory Capital Management Inc. bought a new position in shares of German American Bancorp in the 1st quarter worth approximately $1,083,000. Finally, Schroder Investment Management Group lifted its stake in shares of German American Bancorp by 29.7% in the 1st quarter. Schroder Investment Management Group now owns 3,350 shares of the bank’s stock worth $162,000 after purchasing an additional 767 shares during the period. Hedge funds and other institutional investors own 35.75% of the company’s stock.

In related news, Director Chris A. Ramsey acquired 1,587 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $31.55 per share, for a total transaction of $50,069.85. Following the transaction, the director now owns 16,140 shares in the company, valued at approximately $509,217. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Chris A. Ramsey acquired 3,180 shares of the stock in a transaction on Tuesday, September 5th. The stock was bought at an average price of $32.35 per share, for a total transaction of $102,873.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,588 shares of company stock worth $180,944. Insiders own 8.51% of the company’s stock.

GABC has been the topic of several recent research reports. Zacks Investment Research cut shares of German American Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub upgraded shares of German American Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, ValuEngine cut shares of German American Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Shares of German American Bancorp, Inc. (NASDAQ:GABC) opened at 38.17 on Monday. The company has a market cap of $875.20 million, a PE ratio of 22.05 and a beta of 1.17. German American Bancorp, Inc. has a 1-year low of $24.86 and a 1-year high of $38.44. The firm’s 50-day moving average is $34.34 and its 200-day moving average is $33.03.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, July 31st. The bank reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. German American Bancorp had a return on equity of 11.60% and a net margin of 28.12%. The business had revenue of $32.61 million for the quarter, compared to analyst estimates of $33.20 million. On average, equities analysts forecast that German American Bancorp, Inc. will post $1.72 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This article was published by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this article can be viewed at https://www.watchlistnews.com/citadel-advisors-llc-invests-551000-in-german-american-bancorp-inc-gabc/1619467.html.

German American Bancorp Company Profile

German American Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. Its segments are core banking, trust and investment advisory services, insurance, and other.

Want to see what other hedge funds are holding GABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for German American Bancorp, Inc. (NASDAQ:GABC).

Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

Receive News & Ratings for German American Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for German American Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.