PDT Partners LLC Buys Shares of 16,903 German American Bancorp, Inc. (GABC)
PDT Partners LLC bought a new position in German American Bancorp, Inc. (NASDAQ:GABC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,903 shares of the bank’s stock, valued at approximately $576,000. PDT Partners LLC owned approximately 0.07% of German American Bancorp at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GABC. First Trust Advisors LP lifted its stake in 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 in the last quarter. US Bancorp DE lifted its stake in German American Bancorp by 0.4% in the 1st quarter. US Bancorp DE now owns 9,055 shares of the bank’s stock worth $429,000 after purchasing an additional 38 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 in the last quarter. SG Americas Securities LLC purchased a new stake in German American Bancorp in the 1st quarter worth approximately $238,000. Finally, Victory Capital Management Inc. purchased a new stake in German American Bancorp in the 1st quarter worth approximately $1,083,000. Institutional investors and hedge funds own 35.75% of the company’s stock.
In other news, Director Chris A. Ramsey purchased 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, with a total value of $50,069.85. Following the completion of the acquisition, the director now directly owns 16,140 shares of the company’s stock, valued at $509,217. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired 5,588 shares of company stock worth $180,944 in the last ninety days. Insiders own 8.51% of the company’s stock.
Several analysts have issued reports on GABC shares. 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 issued a hold rating and one has assigned a buy rating to the stock. German American Bancorp currently has a consensus rating of “Hold” and an average target price of $39.75.
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Shares of German American Bancorp, Inc. (NASDAQ:GABC) opened at 38.17 on Friday. The firm has a 50-day moving average of $34.34 and a 200 day moving average of $33.03. German American Bancorp, Inc. has a 1-year low of $24.85 and a 1-year high of $38.44. The stock has a market capitalization of $875.20 million, a PE ratio of 22.05 and a beta of 1.17.
German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, July 31st. The bank reported $0.43 earnings per share for the quarter, beating the 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 business had revenue of $32.61 million for the quarter, compared to the consensus estimate of $33.20 million. Analysts predict that German American Bancorp, Inc. will post $1.72 EPS for the current year.
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.
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