Champlain Investment Partners LLC Reduces Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Champlain Investment Partners LLC decreased its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,252,116 shares of the bank’s stock after selling 150,107 shares during the quarter. Champlain Investment Partners LLC owned 4.22% of German American Bancorp worth $48,519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pettinga Financial Advisors LLC lifted its holdings in German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after acquiring an additional 443 shares during the period. Chatham Capital Group Inc. lifted its holdings in German American Bancorp by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock valued at $1,779,000 after acquiring an additional 840 shares during the period. Valeo Financial Advisors LLC lifted its holdings in German American Bancorp by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after acquiring an additional 1,097 shares during the period. Rhumbline Advisers lifted its holdings in German American Bancorp by 2.6% in the second quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock valued at $1,697,000 after acquiring an additional 1,214 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. lifted its holdings in German American Bancorp by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock valued at $2,419,000 after acquiring an additional 1,290 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Stock Up 2.0 %

Shares of GABC opened at $45.96 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. German American Bancorp, Inc. has a one year low of $27.23 and a one year high of $46.75. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 16.59 and a beta of 0.61. The stock has a 50 day moving average price of $41.07 and a 200 day moving average price of $37.76.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The firm had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. Equities research analysts forecast that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, November 8th. German American Bancorp’s payout ratio is currently 38.99%.

Wall Street Analysts Forecast Growth

GABC has been the subject of a number of analyst reports. Raymond James boosted their price target on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price for the company. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler upped their target price on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, German American Bancorp presently has a consensus rating of “Hold” and a consensus price target of $45.25.

German American Bancorp Company 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.