Comerica Bank Reduces Position in German American Bancorp, Inc. (NASDAQ:GABC)

Comerica Bank decreased its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,098 shares of the bank’s stock after selling 367 shares during the quarter. Comerica Bank owned about 0.10% of German American Bancorp worth $1,170,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Quantbot Technologies LP boosted its position in shares of German American Bancorp by 15.2% during the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank’s stock valued at $119,000 after acquiring an additional 389 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in shares of German American Bancorp by 4.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank’s stock valued at $417,000 after acquiring an additional 405 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of German American Bancorp by 399.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank’s stock valued at $39,000 after acquiring an additional 775 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of German American Bancorp by 821.2% during the 4th quarter. Sterling Capital Management LLC now owns 912 shares of the bank’s stock valued at $37,000 after acquiring an additional 813 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of German American Bancorp by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 23,625 shares of the bank’s stock valued at $950,000 after acquiring an additional 821 shares during the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

German American Bancorp Trading Down 0.7%

NASDAQ GABC opened at $38.80 on Monday. The firm’s 50-day moving average is $37.19 and its two-hundred day moving average is $40.15. German American Bancorp, Inc. has a 12 month low of $31.06 and a 12 month high of $47.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $1.45 billion, a P/E ratio of 13.76 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last posted its earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. The company had revenue of $81.41 million for the quarter, compared to analysts’ expectations of $79.60 million. On average, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, May 9th. This represents a $1.16 dividend on an annualized basis and a yield of 2.99%. German American Bancorp’s dividend payout ratio (DPR) is presently 46.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GABC. Keefe, Bruyette & Woods boosted their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Piper Sandler lowered their price target on shares of German American Bancorp from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.20.

Insiders Place Their Bets

In other German American Bancorp news, Director Diane B. Medley purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 1,090 shares of company stock worth $42,697 over the last three months. Company insiders own 6.16% of the company’s stock.

About German American Bancorp

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.