Wedge Capital Management L L P NC Boosts Stake in German American Bancorp, Inc. (NASDAQ:GABC)

Wedge Capital Management L L P NC lifted its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 22.8% in the 4th quarter, HoldingsChannel reports. The firm owned 114,091 shares of the bank’s stock after acquiring an additional 21,174 shares during the period. Wedge Capital Management L L P NC’s holdings in German American Bancorp were worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of German American Bancorp by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,638,166 shares of the bank’s stock worth $44,378,000 after purchasing an additional 6,828 shares in the last quarter. L.M. Kohn & Company bought a new position in German American Bancorp in the 3rd quarter worth $15,429,000. Boston Trust Walden Corp boosted its holdings in German American Bancorp by 2.1% in the 3rd quarter. Boston Trust Walden Corp now owns 241,719 shares of the bank’s stock worth $6,548,000 after buying an additional 5,055 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in German American Bancorp by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,300 shares of the bank’s stock worth $6,022,000 after buying an additional 13,591 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in German American Bancorp by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 192,497 shares of the bank’s stock worth $5,215,000 after buying an additional 2,958 shares during the period. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

German American Bancorp Trading Down 0.2 %

Shares of German American Bancorp stock opened at $33.17 on Thursday. The company has a fifty day moving average of $32.68 and a 200 day moving average of $31.19. German American Bancorp, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $34.96. The company has a market capitalization of $981.17 million, a P/E ratio of 11.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.79.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. German American Bancorp had a net margin of 27.10% and a return on equity of 14.26%. The business had revenue of $61.20 million during the quarter, compared to the consensus estimate of $61.25 million. On average, sell-side analysts anticipate that German American Bancorp, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at German American Bancorp

In related news, Director Diane B. Medley acquired 1,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $33.64 per share, with a total value of $33,640.00. Following the acquisition, the director now directly owns 3,660 shares of the company’s stock, valued at $123,122.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 1,107 shares of company stock valued at $37,113 in the last 90 days. Insiders own 6.16% of the company’s stock.

Analyst Upgrades and Downgrades

GABC has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of German American Bancorp from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Raymond James upped their target price on shares of German American Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st.

German American Bancorp 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.