First Trust Advisors LP Buys 1,892 Shares of German American Bancorp Inc. (GABC)
First Trust Advisors LP increased its stake in shares of German American Bancorp Inc. (NASDAQ:GABC) by 9.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 22,385 shares of the company’s stock after buying an additional 1,892 shares during the period. First Trust Advisors LP owned 0.15% of German American Bancorp worth $716,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of German American Bancorp during the second quarter valued at about $143,000. Emerald Acquisition Ltd. bought a new stake in shares of German American Bancorp during the second quarter valued at about $718,000. Bank of New York Mellon Corp boosted its stake in shares of German American Bancorp by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 69,531 shares of the company’s stock valued at $2,223,000 after buying an additional 1,453 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in shares of German American Bancorp by 42.0% in the first quarter. Champlain Investment Partners LLC now owns 287,355 shares of the company’s stock valued at $9,253,000 after buying an additional 85,045 shares during the period. 28.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of German American Bancorp Inc. (NASDAQ:GABC) traded down 0.11% during mid-day trading on Friday, hitting $37.86. The stock had a trading volume of 22,565 shares. The stock’s 50-day moving average is $37.30 and its 200 day moving average is $33.91. The firm has a market cap of $577.63 million, a PE ratio of 17.37 and a beta of 1.00. German American Bancorp Inc. has a 12 month low of $29.24 and a 12 month high of $40.12.
German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, July 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. German American Bancorp had a return on equity of 11.40% and a net margin of 25.22%. Equities research analysts predict that German American Bancorp Inc. will post $2.39 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. Zacks Investment Research raised German American Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Sandler O’Neill assumed coverage on German American Bancorp in a report on Thursday, August 25th. They set a “hold” rating for the company. Finally, Raymond James Financial Inc. lowered German American Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday.
German American Bancorp Company Profile
German American Bancorp, Inc is a bank holding company. The Company’s operating segments include core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets.
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