Jennison Associates LLC bought a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,318 shares of the bank’s stock, valued at approximately $354,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Quadrant L P CA bought a new position in German American Bancorp during the 2nd quarter worth $137,000. Smithfield Trust Co. increased its stake in shares of German American Bancorp by 50.0% in the 2nd quarter. Smithfield Trust Co. now owns 4,035 shares of the bank’s stock valued at $138,000 after purchasing an additional 1,345 shares during the last quarter. Legal & General Group Plc increased its stake in shares of German American Bancorp by 56.3% in the 2nd quarter. Legal & General Group Plc now owns 5,314 shares of the bank’s stock valued at $181,000 after purchasing an additional 1,914 shares during the last quarter. Bank of America Corp DE increased its stake in shares of German American Bancorp by 27.8% in the 1st quarter. Bank of America Corp DE now owns 4,400 shares of the bank’s stock valued at $208,000 after purchasing an additional 958 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of German American Bancorp in the 2nd quarter valued at $208,000. Institutional investors own 36.39% of the company’s stock.
Shares of German American Bancorp, Inc. (NASDAQ GABC) traded down $0.34 during trading on Wednesday, reaching $35.96. The company had a trading volume of 16,458 shares, compared to its average volume of 45,673. German American Bancorp, Inc. has a twelve month low of $28.71 and a twelve month high of $39.02. The company has a market cap of $843.37, a price-to-earnings ratio of 23.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.88.
The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, November 9th. German American Bancorp’s payout ratio is 33.12%.
GABC has been the topic of several recent analyst reports. BidaskClub lowered German American Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded German American Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, ValuEngine downgraded German American Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. German American Bancorp currently has an average rating of “Hold” and an average target price of $39.75.
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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.
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