Fisher Asset Management LLC Makes New Investment in German American Bancorp, Inc. (NASDAQ:GABC)

Posted by on Apr 29th, 2023

Fisher Asset Management LLC acquired a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,912 shares of the bank’s stock, valued at approximately $1,228,000. Fisher Asset Management LLC owned 0.11% of German American Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GABC. Captrust Financial Advisors lifted its holdings in shares of German American Bancorp by 1,473.2% during the second quarter. Captrust Financial Advisors now owns 2,234 shares of the bank’s stock worth $76,000 after buying an additional 2,092 shares in the last quarter. CWM LLC raised its stake in German American Bancorp by 168.7% in the fourth quarter. CWM LLC now owns 2,437 shares of the bank’s stock valued at $91,000 after purchasing an additional 1,530 shares in the last quarter. Money Concepts Capital Corp raised its stake in German American Bancorp by 28.5% in the third quarter. Money Concepts Capital Corp now owns 2,968 shares of the bank’s stock valued at $106,000 after purchasing an additional 658 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in German American Bancorp by 209.9% in the third quarter. Tower Research Capital LLC TRC now owns 3,108 shares of the bank’s stock valued at $111,000 after purchasing an additional 2,105 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in German American Bancorp by 26.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,160 shares of the bank’s stock valued at $155,000 after purchasing an additional 866 shares in the last quarter. 41.02% of the stock is owned by institutional investors.

German American Bancorp Stock Down 0.0 %

GABC stock opened at $29.07 on Friday. The company has a market cap of $857.27 million, a PE ratio of 9.14 and a beta of 0.68. The business has a 50-day simple moving average of $34.20 and a 200 day simple moving average of $36.84. German American Bancorp, Inc. has a 52 week low of $28.23 and a 52 week high of $40.70. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.36.

German American Bancorp (NASDAQ:GABC – Get Rating) last issued its earnings results on Monday, January 30th. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.02). The business had revenue of $66.05 million for the quarter, compared to analyst estimates of $67.77 million. German American Bancorp had a return on equity of 17.25% and a net margin of 32.48%. Sell-side analysts anticipate that German American Bancorp, Inc. will post 2.99 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 20th. Shareholders of record on Wednesday, May 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, May 9th. German American Bancorp’s payout ratio is 31.45%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th.

Insiders Place Their Bets

In other German American Bancorp news, Director Chris A. Ramsey bought 1,417 shares of the stock in a transaction on Wednesday, March 29th. The stock was purchased at an average price of $33.32 per share, with a total value of $47,214.44. Following the completion of the purchase, the director now owns 34,325 shares in the company, valued at $1,143,709. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 1,745 shares of company stock valued at $58,515. 6.16% of the stock is currently owned by corporate insiders.

German American Bancorp Profile

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German American Bancorp, Inc is a holding company. -engages in owning a trust, brokerage, and financial planning through German American Financial Advisors & Trust Co, and German American Insurance, Inc It operates through the following business segments: Core Banking, trust and investment advisory services, and insurance operations.

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Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

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