Legal & General Group Plc lowered its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 3,400 shares of the bank’s stock after selling 47 shares during the period. Legal & General Group Plc’s holdings in German American Bancorp were worth $162,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GABC. John W. Rosenthal Capital Management Inc. raised its position in German American Bancorp by 4.5% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 97,478 shares of the bank’s stock valued at $4,615,000 after buying an additional 4,175 shares during the last quarter. Bank of New York Mellon Corp raised its position in German American Bancorp by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 86,367 shares of the bank’s stock valued at $4,088,000 after buying an additional 4,849 shares during the last quarter. First Trust Advisors LP raised its position in German American Bancorp by 9.6% in the first quarter. First Trust Advisors LP now owns 28,245 shares of the bank’s stock valued at $1,337,000 after buying an additional 2,477 shares during the last quarter. Teachers Advisors LLC raised its position in German American Bancorp by 4.7% in the first quarter. Teachers Advisors LLC now owns 24,032 shares of the bank’s stock valued at $1,138,000 after buying an additional 1,069 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in German American Bancorp during the first quarter valued at $1,083,000. Institutional investors and hedge funds own 23.84% of the company’s stock.

German American Bancorp, Inc. (NASDAQ:GABC) traded up 2.31% during trading on Monday, hitting $32.37. 2,438 shares of the company traded hands. The firm has a market cap of $742.21 million, a P/E ratio of 18.70 and a beta of 1.16. The firm has a 50 day moving average of $34.19 and a 200 day moving average of $32.44. German American Bancorp, Inc. has a one year low of $22.87 and a one year high of $36.31.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings results 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 net margin of 28.12% and a return on equity of 11.60%. The company had revenue of $32.61 million for the quarter, compared to analyst estimates of $33.20 million. On average, analysts expect that German American Bancorp, Inc. will post $1.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, August 20th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.64%. German American Bancorp’s dividend payout ratio (DPR) is 32.57%.

TRADEMARK VIOLATION WARNING: “Legal & General Group Plc Sells 47 Shares of German American Bancorp, Inc. (NASDAQ:GABC)” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/legal-general-group-plc-sells-47-shares-of-german-american-bancorp-inc-nasdaqgabc/1486824.html.

GABC has been the topic of several recent research reports. Hilliard Lyons upgraded shares of German American Bancorp from an “underperform” rating to a “neutral” rating and set a $33.00 target price on the stock in a report on Thursday, May 25th. Zacks Investment Research lowered shares of German American Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub lowered shares of German American Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Sandler O’Neill lowered shares of German American Bancorp from a “buy” rating to a “hold” rating and lifted their target price for the company from $33.00 to $36.00 in a report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. German American Bancorp presently has a consensus rating of “Hold” and a consensus target price of $38.00.

About German American Bancorp

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.