TIAA CREF Investment Management LLC lowered its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 8.0% during the first quarter, Holdings Channel reports. The fund owned 37,271 shares of the bank’s stock after selling 3,225 shares during the period. TIAA CREF Investment Management LLC’s holdings in German American Bancorp were worth $1,764,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. US Bancorp DE raised its position in shares of German American Bancorp by 0.4% in the first quarter. US Bancorp DE now owns 9,055 shares of the bank’s stock valued at $429,000 after buying an additional 38 shares during the last quarter. American International Group Inc. raised its position in shares of German American Bancorp by 7.2% in the first quarter. American International Group Inc. now owns 8,749 shares of the bank’s stock valued at $414,000 after buying an additional 587 shares during the last quarter. Schroder Investment Management Group raised its position in shares of German American Bancorp by 29.7% in the first quarter. Schroder Investment Management Group now owns 3,350 shares of the bank’s stock valued at $162,000 after buying an additional 767 shares during the last quarter. Teachers Advisors LLC raised its position in shares of German American Bancorp by 4.7% in the first quarter. Teachers Advisors LLC now owns 24,032 shares of the bank’s stock valued at $1,138,000 after buying an additional 1,069 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of German American Bancorp by 9.6% in the first quarter. First Trust Advisors LP now owns 28,245 shares of the bank’s stock valued at $1,337,000 after buying an additional 2,477 shares during the last quarter. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

German American Bancorp, Inc. (NASDAQ:GABC) opened at 33.25 on Wednesday. The stock has a 50 day moving average of $34.06 and a 200-day moving average of $40.05. The company has a market cap of $762.39 million, a price-to-earnings ratio of 19.21 and a beta of 1.16. German American Bancorp, Inc. has a 52-week low of $30.32 and a 52-week high of $54.46.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, July 31st. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $32.61 million during the quarter, compared to the consensus estimate of $33.20 million. German American Bancorp had a return on equity of 11.60% and a net margin of 28.12%. On average, analysts forecast that German American Bancorp, Inc. will post $1.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, August 20th. Stockholders of record on Thursday, August 10th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, August 8th. German American Bancorp’s payout ratio is presently 32.57%.

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Several brokerages recently weighed in on GABC. BidaskClub lowered shares of German American Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Sandler O’Neill lowered shares of German American Bancorp from a “buy” rating to a “hold” rating and raised their price objective for the company from $33.00 to $36.00 in a research report on Wednesday, April 26th. Finally, Hilliard Lyons raised shares of German American Bancorp from an “underperform” rating to a “neutral” rating and set a $33.00 price objective on the stock in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $38.00.

German American Bancorp Company Profile

German American Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. Its segments are core banking, trust and investment advisory services, insurance, and other.

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

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