Geode Capital Management LLC raised its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,992 shares of the bank’s stock after buying an additional 3,670 shares during the quarter. Geode Capital Management LLC owned about 0.83% of German American Bancorp worth $6,747,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in German American Bancorp by 1.1% during the 4th quarter. BlackRock Inc. now owns 1,471,123 shares of the bank’s stock valued at $51,974,000 after buying an additional 16,190 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of German American Bancorp by 0.5% during the 4th quarter. Champlain Investment Partners LLC now owns 904,960 shares of the bank’s stock worth $31,972,000 after purchasing an additional 4,835 shares during the period. BTIM Corp. lifted its stake in shares of German American Bancorp by 35.7% during the 4th quarter. BTIM Corp. now owns 175,989 shares of the bank’s stock worth $6,217,000 after purchasing an additional 46,338 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of German American Bancorp by 5.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 132,559 shares of the bank’s stock worth $4,683,000 after purchasing an additional 6,555 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of German American Bancorp by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 132,128 shares of the bank’s stock worth $4,668,000 after purchasing an additional 3,564 shares during the period. Hedge funds and other institutional investors own 36.92% of the company’s stock.
A number of brokerages have weighed in on GABC. Zacks Investment Research lowered German American Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, April 5th. BidaskClub raised German American Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Sandler O’Neill set a $36.00 price target on German American Bancorp and gave the stock a “hold” rating in a research note on Tuesday, February 13th. Six analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $35.33.
Shares of German American Bancorp stock opened at $34.02 on Friday. German American Bancorp, Inc. has a fifty-two week low of $30.32 and a fifty-two week high of $39.02. The firm has a market cap of $791.47, a price-to-earnings ratio of 20.37 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.89 and a current ratio of 0.89.
German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). German American Bancorp had a return on equity of 10.80% and a net margin of 28.47%. The business had revenue of $33.05 million for the quarter, compared to analysts’ expectations of $33.76 million. analysts expect that German American Bancorp, Inc. will post 2.02 earnings per share for the current fiscal year.
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German American Bancorp Company Profile
German American Bancorp, Inc operates as the bank holding company for German American Bancorp that provides retail and commercial banking services. The company operates through three segments: Core Banking, Trust and Investment Advisory Services, and Insurance Operations. The Core Banking segment accepts various deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.
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