Semanteon Capital Management LP Acquires 2,294 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Semanteon Capital Management LP boosted its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,223 shares of the bank’s stock after purchasing an additional 2,294 shares during the period. Semanteon Capital Management LP’s holdings in German American Bancorp were worth $451,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in German American Bancorp in the third quarter worth $597,000. Barclays PLC boosted its holdings in shares of German American Bancorp by 577.6% during the third quarter. Barclays PLC now owns 69,271 shares of the bank’s stock worth $2,684,000 after purchasing an additional 59,048 shares during the period. State Street Corp boosted its holdings in shares of German American Bancorp by 6.9% during the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock worth $29,941,000 after purchasing an additional 50,206 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of German American Bancorp by 154.6% during the third quarter. JPMorgan Chase & Co. now owns 60,850 shares of the bank’s stock worth $2,358,000 after purchasing an additional 36,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of German American Bancorp by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock worth $40,195,000 after purchasing an additional 44,845 shares during the period. 46.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other German American Bancorp news, Director Diane B. Medley bought 1,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $39.21 per share, with a total value of $39,210.00. Following the completion of the purchase, the director now owns 5,370 shares of the company’s stock, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 1,086 shares of company stock valued at $42,621 over the last three months. Corporate insiders own 6.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GABC. Piper Sandler dropped their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their target price on shares of German American Bancorp from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.40.

German American Bancorp Price Performance

GABC stock opened at $38.20 on Friday. German American Bancorp, Inc. has a 1 year low of $31.06 and a 1 year high of $47.08. The company has a market cap of $1.43 billion, a P/E ratio of 13.55 and a beta of 0.60. The firm has a 50-day moving average of $39.66 and a 200 day moving average of $40.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. On average, sell-side analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.29 dividend. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Monday, February 10th. German American Bancorp’s dividend payout ratio is presently 41.13%.

German American Bancorp Profile

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts 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.